Daily Observation of Cryptocurrency Policy: U.S. lawmakers propose the "Resign if You Sell" bill, aiming to strictly prohibit senior officials from trading digital assets

Regulatory Blind Spots Tighten: Comprehensive Block on High Officials' Digital Assets and Prediction Market Exposure

For a long time, the controversy surrounding U.S. Congress members and officials using insider information for stock and cryptocurrency trading has been ongoing.

To completely sever this interest chain, Democratic Congressman Eugene Vindman officially submitted the "Sell Your Stocks or Step Down Act" (Bill No. H.R.10199) to the House of Representatives on August 31. The scope of regulation in this bill is extensive, covering the President, Vice President, members of Congress, senior executive officials, federal judges, and certain immediate family members. In terms of restricted asset categories, the bill explicitly includes "Digital Assets," "Commodities and Futures," and "Prediction Market Contracts" on the blacklist alongside traditional individual stocks.

Strict Deadline and Penalties: 30 Days for Forced Liquidation, Violations Face "Bottom Fishing" Heavy Fines

The bill not only delineates restricted areas but also establishes a highly punitive exit and accountability mechanism.

According to the provisions of the bill, the aforementioned individuals must forcibly sell all restricted assets they hold within 30 days after the bill officially takes effect (only U.S. Treasury bonds, state and municipal bonds, and qualified diversified publicly traded funds and other low-risk macro assets are allowed to be retained).

Once a violation occurs, extremely severe financial penalties will be imposed:

• Failure to Sell on Time: For those who do not sell restricted assets by the deadline, daily fines can reach up to 10% of the market value of the violated assets, with a cumulative maximum penalty of 50% of the total value of the violated assets;

• Illegal Trading: If found engaging in the buying and selling of the aforementioned assets during their term, they must pay a hefty fine equivalent to "the total value of the traded assets plus $10,000," and all profits obtained through such trading must be surrendered.

Political Integrity Review and Reconfirmation of Web3 Asset Attributes

Based on the legislative dynamics in Washington in early September, although the H.R.10199 bill is currently only in the initial stage of being proposed in the House and referred to committee review, its substantive implementation still faces significant political resistance. However, the policy signals it releases cannot be ignored. The bill places digital assets and the recently popular decentralized prediction market contracts alongside traditional individual stocks, indicating that the U.S. regulatory system has macro-level recognized Web3 targets as "mainstream financial assets" with significant potential for economic conflict of interest. If such bills gain traction in both chambers in the future, it may trigger a concentrated sell-off of crypto holdings among high-level officials in Washington, while also marking the complete entry of cryptocurrency assets into the radar center of national-level conflict of interest reviews in the U.S.

Source: https://bbx.com/ Cryptocurrency Concept Stock Information Database, compiled based on yesterday's announcements from global listed companies and SEC/TSE disclosure documents.