Recently, the political arena in Pennsylvania has once again focused on the Crypto Assets field. Democratic Congressman Ben Waxman proposed a noteworthy bill HB1812, which aims to regulate the behavior of public officials and their immediate family members in relation to Crypto Assets.

The core content of the bill is to prohibit public officials and their immediate family members from profiting from Crypto Assets during their term of office. This ban covers actions such as issuing, promoting, or trading Crypto Assets in which they have personal financial interests. Congressman Waxman emphasized that public officials should not take advantage of their position to seek personal gain through Crypto Asset projects.

If the bill is ultimately passed, its impact will be very profound. Relevant individuals and their immediate family members will be prohibited from engaging in Crypto Assets transactions exceeding $1000 during their term and for one year after leaving office. More strictly, the bill requires the relevant individuals to liquidate their Crypto Assets holdings within 90 days of the bill's enactment.

It is worth noting that the bill also sets forth severe penalties. Those who seriously violate the regulations may face up to 5 years in prison or fines of up to $50,000.

The introduction of this bill reflects the regulators' concerns about the potential conflicts of interest posed by Crypto Assets. It aims not only to maintain the integrity of public officials but also to protect the public interest and prevent public positions from being used for personal gain.

However, this bill has also sparked some controversy. Supporters believe it is a necessary measure to ensure government integrity, while opponents worry that it may overly restrict public officials' personal investment freedoms. In any case, the introduction of this bill will undoubtedly lead to more discussions and debates regarding Crypto Assets regulation.

As the influence of Crypto Assets continues to expand globally, similar regulatory measures may emerge in other regions. This reflects the active response of government departments to the new challenges posed by Crypto Assets, striving to find a balance between innovation and regulation.