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BTC · 6w

AOC Says She Doesn't Own Bitcoin to Do Her Job 'Ethically'

On Monday, Rep. Alexandria Ocasio-Cortez clarified on Instagram that she does not hold any digital assets or tokens, including Bitcoin, and said she doesn’t believe policymakers should be able to hold financial products like stocks.In June 2018, rules passed by the House Ethics Committee required members of Congress to disclose ownership of crypto-asset holdings worth at least $1,000 in their annual disclosures. It should not come as a surprise, then, that the democratic socialist doesn’t believe policymakers should be able to hold financial assets in order to remain impartial.“Because we have access to sensitive information and upcoming policy, I do not believe members of Congress should hold/trade individual stock and I choose not to hold any so I can remain impartial about policy marking,” Ocasio-Cortez wrote on Instagram, answering a question about if she held any crypto. "I also extend that to digital assets/currencies (especially because I sit on the Financial Services Committee). So the answer is no because I want to do my job as ethically and impartially as I can," she added.This point about ethics and impartiality is an important one, because lawmakers trading on nonpublic information has been an open secret for years. AOC herself has said it is “absolutely wild” that members of Congress are allowed to trade stock while in office. To take one recent example, Unusual Whales—which features financial tools that track "large stock and unusual options flow movements”—published a brief history last year looking at semiconductor bills that were proposed, but never passed, in Congress. Many of the bills not only feature co-sponsors that stood to financially benefit from the legislation, but also stock sales and purchases around their anticipated passage.It’s because of a long history of situations like this that the Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act) was passed, which finally made insider trading illegal, aimed to stop conflicts of int...
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