US Republican representative Lauren Boebert neglected to file transaction reports for eight cryptocurrency trades made last year by her husband, according to her annual financial statement.
The trades, ranging in value from $1,000 to $15,000 and involving an unknown crypto, were made by Jayson Boebert last May using the Robinhood app.
However, despite the US House of Representatives requiring trades like these to be reported within 45 days under the Stop Trading on Congressional Knowledge Act of 2012 (STOCK), Boebert failed to do so.
According to Kedric Payne, vice president of the Campaign Legal Center, Boebert’s failure to report the trades is “disturbing.”
“There’s a huge red flag that all these assets were obtained in one year, but no reporting on it,” said Payne (via The Colorado Sun). “And it’s not even reported accurately in that annual report. Those things should be transactions, not just listings of assets.”
Members of Congress who fail to file within 45 days could be subject to a $200 fine but, as detailed by Business Insider earlier this year, this punishment is often waived by the House Ethics Committee.
Read more: US government adopts strict crypto ethics rules for employees
Congress considering all-out trading ban for US politicians
Congress is currently mulling a number of measures that would ban many US politicians from trading stocks altogether.
Calls for stricter measures grew louder after it was revealed that 71 members of Congress failed to adhere to STOCK Act laws, with excuses ranging from ignorance of the law to clerical foul-ups and accounting snafus.
Lauren Boebert also failed to disclose any crypto, stock, or brokerage assets in her 2020 personal financial filing. This caused her problems when it was revealed that her husband had been paid nearly $1 million for consulting work for an oil and gas company in Colorado.
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Source: https://protos.com/us-politicians-failure-to-report-husbands-crypto-trades-branded-disturbing/