Pennsylvania’s Bold Move: Public Officials Face Crypto Transaction Ban and Strict Disclosure Mandates
Pennsylvania slams brakes on officials' crypto dealings—new legislation bans transactions and demands full transparency.
The Accountability Push
Lawmakers target potential conflicts of interest—no more hidden digital asset moves by those in power. The bill forces complete disclosure of existing holdings while banning future transactions during terms.
Transparency Over Privacy
Public servants must now choose between serving constituents or chasing crypto gains—the state won't allow both. The rules apply to all elected and appointed officials across Pennsylvania's government structure.
Because apparently traditional corruption methods weren't innovative enough—now they're modernizing with blockchain. Pennsylvania's proving that when it comes to public trust, they're not mining for excuses.
Disclosure and divestiture requirements
Public officials must disclose any financial interest in digital assets exceeding $1,000 in their statements of financial interests. Officials who already possess such interests must divest their holdings within 90 days after the bill takes effect.
The disclosure requirements apply to both direct holdings and investments through immediate family members. The $1,000 threshold aligns with existing financial disclosure standards for other investment categories.
HB1812 classifies violations related to digital assets as felonies with fines up to $10,000 or imprisonment for up to five years. Violations of other restricted activities provisions incur civil penalties of up to $50,000.
The legislation establishes a 60-day implementation period following passage. The bill addresses digital asset ethics in public service as crypto becomes more prevalent in investment portfolios.
Federal efforts
The Pennsylvania legislation aligns with the 2025 federal efforts to address officials’ crypto activities.
Congressman Ritchie Torres proposed the “Stop Presidential Profiteering from Digital Assets Act”, seeking to prohibit federal officials from owning or trading crypto while in office.
Senator Adam Schiff introduced the, which WOULD ban presidents, vice presidents, members of Congress, and their families from issuing, promoting, or financially benefiting from digital assets during their term and for two years after leaving office.
The federal MEME Act, introduced i, similarly aims to prevent government officials from profiting from memecoins and other cryptocurrencies.
These concurrent legislative efforts demonstrate growing bipartisan concern about potential conflicts of interest as digital assets become mainstream investment vehicles for both private citizens and public officials.
