Pennsylvania | Crypto

Pennsylvania lawmaker Ben Waxman, a Democrat, has introduced a bill that would prevent public officials from owning or transacting in digital assets while in office. The proposal, known as the House Bill 1812 (HB1812), aims to amend the state’s ethics and financial disclosure laws and extend those restrictions to officials’ immediate families. The legislation covers […] The post Pennsylvania bill could jail officials who hold crypto after 90 days appeared first on CryptoSlate.

The bill pushed by the representative included a ban on lawmakers and their families from "launching, promoting, or trading in coins where they hold a personal financial interest.” Ben Waxman, a Democrat representing District 182 in Pennsylvania’s House of Representatives, has introduced legislation “to prohibit elected officials from profiting off cryptocurrency while in office.” Waxman introduced HB1812 on Wednesday with eight Democratic co-sponsors in response to what he called “corruption” perpetuated at the federal level by US President Donald Trump. The Pennsylvania lawmaker accused Trump of financially benefiting from crypto projects like his memecoin, Official Trump (TRUMP), and pushing policies to “roll back federal oversight of crypto markets, shielding these schemes from scrutiny.” Read more

Pennsylvania lawmakers introduced new legislation on Aug. 20 that will require public officials to disclose digital asset holdings exceeding $1,000 and divest anything above that threshold within 90 days of the bill coming into effect. The legislation also prohibits officials from conducting crypto transactions during their term and for one year after leaving office. The […] The post Pennsylvania bill bans public officials from crypto transactions, mandates disclosures appeared first on CryptoSlate.

Diversified Energy is under fire for reportedly walking away from a natural gas-powered crypto mining site in Pennsylvania without plugging wells. Cryptocurrency miner Diversified Energy quietly vacated a natural gas-powered crypto mining site in Elk County, Pennsylvania, reportedly leaving behind unplugged wells and regulatory violations. The site, known as Longhorn Pad A, was revived in 2022 after sitting dormant for nearly a decade when Diversified began using it to fuel on-site generators powering cryptocurrency mining computers, according to a report by the Erie Times-News. Per the report, the operation was launched without obtaining an air quality permit from the Pennsylvania Department of Environmental Protection (DEP). Read more