Law Decoded, July 4–11: Access denied for crypto-owning policymakers
— Access, Crypto, States, Sunak, Denied, Usdt, Policymakers, Cryptoowning, Stablecoin, Regulation — 1 min read
The U.S. Office of Government Ethics says the de minimis exemption is universally inapplicable when it comes to cryptocurrencies and stablecoins. Even holding a mere $100 of a certain stablecoin should prevent a civil servant from participating in drafting regulation “until and unless they divest their interests in [that] stablecoin” Stablecoins are not an exception — the same goes for any kind of cryptocurrency. The only exemption will be made for policymakers who hold up to $50,000 in mutual funds that invest broadly in companies that would benefit from crypto and blockchain technology. Some Chinese firms have been using the Tether (USDT) stablecoin for salaries amid the hardline crypto ban by the country’s government. Source