The latest legal advisory from the Office of Government Ethics does not allow federal workers who own crypto from outlining policies that could impact the value of their digital assets.
The legal advisory notice given by the U.S. Office of Government Ethics (OGE) on Tuesday declared that the exemption – which when applied to a security, would permit the proprietor of a sum under a specific cap to work on policy connected with that security. However, this exemption does not extend to no cryptocurrency or stablecoin, regardless of whether the cryptocurrencies being referred to “constitute securities for purposes of the federal or state securities laws.”
The mandate will probably essentially affect some White House staff members who have been open about their crypto investments. Tim Wu, a technology adviser to the Biden organization who holds a huge number of dollars in bitcoin wouldn’t be engaged with policy outlining. Wu has time and again deliberately refrained from working on crypto policy.
Although, if the employees hold less than $50,000 in a mutual fund with exposure to the crypto sector they will be allowed to work on crypto-related policies.