Congressman Goodlatte Announces Crypto-Investment
US Republican Bob Goodlatte has become the first ever official lawmaker within the US to publicly announce investing in cryptocurrencies. As a unique act, a direct response to a publication by the US ethics office (OGE) mandates that all government employees must report any interest or investment in digital currencies.
Bob Goodlatte, the US Congressman has revealed investing in BCH worth anywhere between $17K to $80K. As the first announcement of its sort, this presents a positive move towards the future adoption of digital currencies and was made as a request by the ethics office. The US office of government ethics has mandated that all government officials report any interest in digital currencies.
Goodlatte’s announcement is not a surprise by any means with the public due to his previous interactions with digital currencies. Bobby Goodlatte Jr, the Congressman’s son, is a very active member in the crypto-sphere and is a highly praised investor in Coinbase, a leading cryptocurrency exchange.
As per statements by the OGE, it specifically states that official state employees must report any possession of cryptocurrencies either publicly or privately and are exposed to thresholds on property held (cryptocurrencies) either as investments of methods of income. Reporting any interest in cryptocurrencies had a set 45-day timeframe.
Following the announcement by Goodlatte, more government employees will be coming forward with their own announcements. This provides a positive step forward for crypto in general as more public announcements will only contribute to the expansion and adoption of digital currencies.