Pennsylvania legislators have presented new legislation August 20 that will require Officials to disclose digital asset assets exceeding $ 1,000 and yield everything that is above this threshold within 90 days of the entry into force of the bill.
The legislation also prohibits managers from carrying out cryptographic transactions during their mandate and for a year after leaving his duties.
The bill, HB1812, modifies the title 65 of the consolidated statutes of Pennsylvania concerning the standards of ethics for the civil servants, and was referred to the Government of the State Committee on the same day.
It introduces a definition of “digital active ingredients” which includes various forms of digital money and tokens, including crypto and NFT.
The legislation also prohibits the immediate families of civil servants from engaging in certain financial transactions during the mandate of the politician and for a year after leaving his duties.
The representative Ben Waxman sponsors HB1812 with seven other co-sponsors, including Freeman, Giral, Pielli, Probst, Hill-Evans, Sanchez, Otten and Briggs.
Disclosure and disinvestment requirements
Officials must disclose any financial interest in digital assets exceeding $ 1,000 in their financial interest declarations. Officials who already have such interests must sell their assets within 90 days of the bill.
Disclosure requirements apply both to direct assets and investments through immediate family members. The threshold of $ 1,000 aligned with existing financial disclosure standards for other investment categories.
HB1812 classifies violations related to digital assets as crimes with fines of up to $ 10,000 or an imprisonment of up to five years. Violations of other limited activities lead to civil sanctions up to $ 50,000.
The legislation establishes a period of implementation of 60 days after the adoption. The bill deals with the ethics of digital assets in the public service as the crypto becomes more widespread in investment portfolios.
Federal
Pennsylvania’s legislation is aligned with the federal efforts of 2025 to fight against the cryptographic activities of civil servants.
The member of the Congress Ritchie Torres proposed the “STOP Presidential Profering from Digital Acts Acts” in May 2025Seeking to prohibit federal officials from having or negotiating the crypto during his mandate.
Senator Adam Schiff presented the Coin Act in June 2025Who would prohibit the presidents, the vice-presidents, the members of the Congress and their families to issue, promote or benefit financially from digital assets during their mandate and for two years after leaving their duties.
The Federal Same Act, presented in February 2025Also aims to prevent government representatives from enjoying the same and other cryptocurrencies.
These simultaneous legislative efforts demonstrate an increasing bipartite concern concerning conflicts of potential interests as digital assets become traditional investment vehicles for private people and civil servants.
