Non Cult Crypto News

Non Cult Crypto News

in ,

US lawmaker kicks off 2025 by disclosing altcoin investment

Georgia Representative Mike Collins has disclosed investments in Ether and other altcoins since taking office in 2023.

COINTELEGRAPH IN YOUR SOCIAL FEED

As members of the United States Congress prepared to begin their 119th session, one Georgia representative filed a disclosure statement for exposure to cryptocurrency on New Year’s Day. 

In a financial disclosure report filed with the US House of Representatives on Jan. 1, Representative Mike Collins revealed he had purchased between $1,001 and $15,000 in Ski Mask Dog (SKI), a token launched in May 2024.

According to the report — as well as one filed in December — Rep. Collins made three purchases, each up to $15,000 of the token between Dec. 1 and Dec. 3, roughly a month after the US election, at a time when the price of many cryptocurrencies was surging.

Rep. Mike Collins’ financial disclosure of Ski Mask Dog token. Source: US House of Representatives

Rep. Collins, a Republican, ran for reelection in Georgia’s 10th congressional district in November, defeating Democratic candidate Lexy Doherty with more than 63% of the vote.

It’s unclear whether his investment was tied to his election victory, but during his time in office, he has disclosed purchases in Ether (ETH), Velodrome (VELO), Aerodrome Finance (AERO), and The Graph (GRT).

Under the Stop Trading on Congressional Knowledge (STOCK) Act, US lawmakers are largely required to disclose purchases or sales of stocks and cryptocurrencies. As of Jan. 3, Rep. Collins appeared to have been the only member of Congress to file a report in 2025. 

Related: President Biden proposes ban on congressional stock trading: Report

Until the US Election on Nov. 5, SKI was trading at under $0.01 since its May launch. However, the price of the token surged to an all-time high of more than $0.35 on Dec. 5, dropping to roughly $0.25 at the time of publication.

Moves to ban crypto trading among US lawmakers?

Though Rep. Collins joins other lawmakers like Texas Senator Ted Cruz and Wyoming Senator Cynthia Lummis in disclosing crypto investments, he did not appear to have made digital assets a central part of his policy platform.

He has voted in favor of legislation praised by crypto industry figures, including the Financial Innovation and Technology for the 21st Century (FIT21) Act and said he intended to “move fast” in the 119th session of Congress.

Some members of Congress, however, have highly criticized existing policy for disclosing investments, citing potential conflicts of interest while in office. In July, a bipartisan group of US senators called on House leaders to amend the STOCK Act to prevent lawmakers from engaging in stock trading. It’s unclear whether lawmakers in the next session of Congress will consider similar legislation.

Magazine: How crypto laws are changing across the world in 2025

This article first appeared at Cointelegraph.com News

What do you think?

Written by Outside Source

6 cryptos under $1 that could redefine portfolios with 16,000% gains by Q1 2025

Irresistible altcoins this winter: Dogen among top tokens with explosive ROI

Back to Top

Ad Blocker Detected!

We've detected an Ad Blocker on your system. Please consider disabling it for Non Cult Crypto News.

How to disable? Refresh

Log In

Or with username:

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

To use social login you have to agree with the storage and handling of your data by this website.

Add to Collection

No Collections

Here you'll find all collections you've created before.