Bob Goodlatte, a U.S. Congressman, Publicly Declares his BCH Investment

Bob Goodlatte, a U.S. Congressman, Publicly Declares his BCH Investment

A United States congressman Rep. Bob Goodlatte becomes the first lawmaker in the United States of America to announce investment in cryptocurrency.  

The first of its kind which was a response to the publication of legal advisory by the United States office of government ethics on June 18, which require all government officials to declare their interest in cryptocurrency. This serves as a boost to more acceptance that will trail cryptocurrency.

US lawmaker Announce Cryptocurrency Holdings

Rep. Bob Goodlatte declares his Bitcoin Cash (BCH) cryptocurrency investment, which is valued to be between $17,000 and $80,000.

The announcement which is the first of its kind for a government official represents is a good sign for the acceptance of cryptocurrency in the future,  as it was made in response to a request of the office of government ethics. The United State’s office of government ethics had previously requested all government executive official through legal advisory to announce their interest in cryptocurrency.

This declaration of cryptocurrency asset by the congressman, Goodlatte being first of its kind to happen does not come as a surprise to the public because of his previous association with virtual currencies. His son, Bobby Goodlatte Jr. is actively involved in cryptocurrency as an influential investor in one of the popular cryptocurrency exchange, Coinbase.

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The notice of the office of government ethics states,

“U.S. Office of Government Ethics (OGE) has determined that virtual currency is ‘property held…for investment or the production of income’ for purposes of public and confidential financial disclosure, under the Ethics in Government Act.”

As it further reveals that “Executive branch employees are therefore required to report their holdings of virtual currency on their public or confidential financial disclosure report, subject to applicable reporting thresholds for property held for investment or the production of income.”

A 45 days period was set for the disclosure of interest in cryptocurrency by the executive. The revelation of Mr. Goodlatte will see more announcement from more government officials, as Jared Polis is expected to follow suit. With more expectation of acceptance to trail cryptocurrency, this is a welcome development.

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