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- Gate July 2025 Transparency Report:
Accelerating Leadership in the Global Crypto Landscape!
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A Texas lawmaker failed to disclose the purchase of 500,000 dollars worth of Bitcoin within the deadline.
According to Gate News bot, as reported by OpenSecrets, Texas Republican Congressman Brandon Gill failed to properly disclose his Bitcoin purchase of up to $500,000 within the federally mandated 45-day period, raising new questions about the transparency of lawmakers in Crypto Assets investments and potential conflicts of interest.
Gill reported that he purchased Bitcoin worth between $100,000 and $250,000 on January 29 and February 27, respectively, but only disclosed these transactions on Monday, far exceeding the deadline set by the STOCK Act.
The bill was passed in 2012, aimed at curbing insider trading and ensuring accountability by requiring lawmakers to report securities trades (including those involving digital assets) in a timely manner. However, the law seems to lack enforceability, with violators facing only a $200 fine and often being exempted by the House Ethics Committee.
Source: Decrypt