Rep. Brandon Gill: Crypto Bro First, Lawmaker Second?
The Game is Rigged, Even in Congress...
Lawmaker from Texas Fails to Meet Deadline for Disclosing Bitcoin Purchases
The cat's out of the bag! Congressman Brandon Gill (R-TX) has been caught playing fast and loose with the rules - or so says OpenSecrets, who recently reported that the crypto-savvy lawmaker failed to properly disclose up to half a mil in Bitcoin transactions within the 45-day window mandated by federal law. Oopsie!
Gill reported buying between $100,001 and $250,000 in Bitcoin on both January 29 and February 27, but only disclosed the trades on Monday, well beyond the deadline required under the Stop Trading on Congressional Knowledge (STOCK) Act. Could he be any more obvious?
We reached out to Gill's office for comment, but as of now, crickets.
What's the big deal, you ask? Well, the STOCK Act is designed to curb insider trading and ensure accountability by requiring timely reporting of lawmakers' securities transactions, including those involving digital assets. Unfortunately, the law is toothless, with violators facing only a $200 fine that congressional ethics committees frequently waive. Yawn, another day in office, right?
But wait, there's more! Gill is a crypto fanboy, plain and simple. His January trade came days after former Prez Donald Trump signed an executive order calling for reduced regulation on digital assets. And his February buy – just before Trump unveiled his "strategic Bitcoin reserve" initiative on March 6. And no, this isn't your typical cousin Larry hoarding bitcoins in his basement. This is a congressman using his position for personal gain, and it stinks.
Trump's Crypto Crew
Gill is a member of a growing pro-crypto bloc in Washington, and he's not alone. This lawmaker, son-in-law of conservative commentator and Trump donor Dinesh D'Souza (who Trump pardoned for campaign finance violations, by the way), has become a champion of the industry.
Gill's pushed for several bills aimed at deregulating the crypto landscape and has a controversial proposal to replace Benjamin Franklin with Donald Trump on the $100 bill.
Trump may have left the White House, but he and his family are still making waves in the crypto world. This crew has launched or endorsed numerous digital asset ventures, from NFTs to unlaunched DeFi platforms. And Gill's kids, Eric and Donald Jr., are also involved in several crypto projects.
The push for looser crypto rules has been a cash cow for its political backers. The SEC has dropped several investigations into crypto firms under the current administration, while lawmakers have praised the industry at high-profile events.
Meanwhile, Democrats are trying to put the brakes on this money train. Led by Rep. Maxine Waters (D-Calif.), they've introduced bills to prohibit elected officials and their families from owning or launching crypto projects while in office. But so far, these measures have failed to attract Republican support. Because, you know, principles and integrity are so last century.
Edited by Sebastian Sinclair
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- Rep. Brandon Gill, despite being a lawmaker, has been accused of failing to timely disclose up to half a million dollars in Bitcoin transactions, as reported by OpenSecrets, potentially violating the STOCK Act.
- The STOCK Act, designed to curb insider trading and ensure accountability, requires lawmakers to report securities transactions within 45 days, a rule Gill allegedly disregarded.
- Gill's Bitcoin transactions, reported after the deadline, suggest a possible misuse of his position for personal gain, raising questions about his ethical conduct and engagement in crypto projects.
- Meanwhile, politics influencing finance and crypto projects is not a rare sight in Washington, with Rep. Brandon Gill being part of a growing pro-crypto bloc, including family members Eric and Donald Jr.
- As former President Trump leaves the White House, his influence remains strong in the crypto world, with his family members launching or endorsing several digital asset ventures, such as NFTs and DeFi platforms.
- In a bid to control this, Democrats have introduced bills that would prohibit elected officials and their families from owning or launching crypto projects while in office, but these measures have yet to gain significant Republican support.
