Pennsylvania state lawmaker Ben Waxman has introduced legislation aimed at prohibiting public officials from profiting off cryptocurrency during their time in office. The bill, HB1812, is co-sponsored by eight Democrats and responds to allegations of corruption at the federal level, particularly targeting former President Donald Trump, who Waxman claims has financially benefited from crypto projects. The proposed law would prevent lawmakers and their families from launching, promoting, or trading coins where they have a personal financial interest. If enacted, public officials and their immediate families would be barred from engaging in cryptocurrency transactions exceeding $1,000 while in office and for one year after leaving. They would also be required to divest their crypto holdings within 90 days of the bill's passage. Potential penalties could include fines up to $50,000 and prison sentences of up to five years for certain violations.

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