J. Scott Applewhite/AP Photo
- Alexandria Ocasio-Cortez isn’t a bitcoin holder, the New York Representative disclosed on Monday.
- Members of Congress shouldn’t hold or trade digital assets, in the same way that they should steer clear of stocks, AOC said on Instagram.
- AOC, who sits on the powerful House Financial Services Committee, said she wants to do her job as “ethically and impartially” as she can.
Rep. Alexandria Ocasio-Cortez isn’t getting caught up in the craze for cryptocurrencies.
The New York Democrat, who has said it’s “absolutely wild” that members of Congress can buy and trade stocks, believes the same applies to digital assets.
In an Instagram story on Monday, Ocasio-Cortez replied to a follower who asked whether she invests in bitcoin.
“Because we have access to sensitive information and upcoming policy, I do not believe members of Congress should hold/ trade individual stock and I choose not to hold any so I can remain impartial about policymaking,” she said.
“I also extend that to digital assets/ currencies (especially bc I sit on Financial Services Committee).”
“So the answer is no bc I want to do my job as ethically and impartially as I can,” the lawmaker added.
Ocasio-Cortez sits on the powerful House Financial Services Committee, which means she has a say in the oversight of Wall Street and financial institutions.
@aoc/Instagram
The US representative has already expressed concerns about investments made by lawmakers. In August, she said “it shouldn’t be legal” for members of Congress to buy or sell individual stocks.
Those comments came after Sen. Rand Paul revealed his wife’s investment in coronavirus drug-maker Gilead. Paul’s disclosure came 16 months after the 45-day deadline set under the STOCK Act (Stop Trading on Congressional Knowledge Act), which is designed to reduce the threat of insider trading.
Not all politicians see bitcoin investments as raising ethical questions. Republican Sen. Cynthia Lummis, a vocal crypto supporter, is a bitcoin holder. In her home state of Wyoming, multiple crypto-friendly laws have been passed in recent years, including one that allowed for the first US fully regulated bank to hold both crypto and fiat currencies.
Bitcoin continued to recover from its weekend sell-off on Tuesday to trade above $50,000. It was last trading 8% higher at $51,511, but is down 18% in the past month, according to data from CoinMarketCap.