Texas Congressman Brandon Gill is under investigation for delayed disclosure of Bitcoin transactions valued at nearly $500,000, raising concerns about compliance with federal regulations. According to reports from Cointelegraph, Gill, a first-term legislator, failed to report two separate Bitcoin purchases made on January 29 and February 27 within the legally required 45-day window.
The transactions, each ranging between $100,000 and $250,000, were disclosed beyond the deadline set by the Stop Trading on Congressional Knowledge (STOCK) Act. This legislation is designed to prevent insider trading and conflicts of interest among members of Congress by enforcing timely reporting of financial activities.
Gill, who recently gained attention for proposing a bill to feature former President Donald Trump on the $100 bill, now faces scrutiny for potential violations of transparency rules. This incident underscores the increasing regulatory focus on cryptocurrency dealings by public officials and the critical importance of adherence to disclosure requirements.