{"id":31687,"date":"2022-07-07T01:53:49","date_gmt":"2022-07-07T05:53:49","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=31687"},"modified":"2022-07-07T01:53:57","modified_gmt":"2022-07-07T05:53:57","slug":"united-states-bans-crypto-owners-from-working-on-government-cryptocurrency-policies","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/united-states-bans-crypto-owners-from-working-on-government-cryptocurrency-policies\/","title":{"rendered":"United States Bans Crypto Owners From Working On Government Cryptocurrency Policies"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-in-a-new-legal-notice-the-us-office-of-government-ethics-says-that-any-employee-who-owns-cryptocurrency-can-t-work-on-federal-rules-about-crypto\">In a new legal notice, the US Office of Government Ethics says that any employee who owns cryptocurrency can't work on Federal rules about crypto.<\/h5>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"512\" data-id=\"31689\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/iStock-1195940447-1140x570-1-1024x512.jpg\" alt=\"\" class=\"wp-image-31689\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/iStock-1195940447-1140x570-1-1024x512.jpg 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/iStock-1195940447-1140x570-1-300x150.jpg 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/iStock-1195940447-1140x570-1-768x384.jpg 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/iStock-1195940447-1140x570-1-150x75.jpg 150w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/iStock-1195940447-1140x570-1-360x180.jpg 360w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/iStock-1195940447-1140x570-1-750x375.jpg 750w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/iStock-1195940447-1140x570-1.jpg 1140w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/figure>\n\n\n\n<p>Cryptocurrency owners working with the US government are now barred from working on rules and policies that could affect the value of cryptocurrency.<\/p>\n\n\n\n<p>According to a <a href=\"https:\/\/www.oge.gov\/web\/oge.nsf\/News+Releases\/E116F1FD24F94BB3852588770058A0FA\/$FILE\/LA-22-04.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">new advisory notice<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a> issued on Tuesday by the US Office of Government Ethics (OGE), the de minimis exemption \u2014 which allows owners of securities who hold an amount less than a certain threshold to work on policy related to that security \u2014 is universally inapplicable when it comes to cryptocurrencies and stablecoins.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p>&#8220;As a result, an employee who holds any amount of a cryptocurrency or stablecoin may not participate in a particular matter if the employee knows that particular matter could have a direct and predictable effect on the value of their cryptocurrency or stablecoins.\u201d<\/p><\/blockquote><\/figure>\n\n\n\n<p>The notice presented an example situation in which an employee who owns only $100 of a particular stablecoin is asked to work on stablecoin regulation \u2013 the employee in question cannot engage in regulatory work &#8220;until and until they divest their interests in [that] stablecoin.&#8221;<\/p>\n\n\n\n<p>This order remains in effect even if the <a href=\"https:\/\/coinscreed.com\/staging\/cryptocurrency-stealing-malware-pennywise-spreads-via-youtube.html\">cryptocurrency<\/a> or <a href=\"https:\/\/www.google.com\/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwiSzdaWhub4AhWbBLkGHWJtDDEQFnoECAYQAQ&url=https%3A%2F%2Fcoinscreed.com%2Fstaging%2Fstablecoins-a-general-overview-of-what-they-are-how-they-work-and-how-to-buy-them.html&usg=AOvVaw2PslhtZW4FNfO54cShdJji\" target=\"_blank\" rel=\"noreferrer noopener\">stablecoin<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a> in question eventually &#8220;constitutes [a security] for purposes of federal or state securities laws,&#8221; according to the notification.<\/p>\n\n\n\n<p>The new rule applies to all federal government employees, including those at the White House, the Federal Reserve, and the Treasury Department.<\/p>\n\n\n\n<p>The term &#8220;de minimis&#8221; is derived from a longer Latin phrase that means &#8220;the law is not concerned with trifles.&#8221;<\/p>\n\n\n\n<p>The lone exception to the OGE's crypto ownership restrictions is that policymakers are permitted to hold up to $50,000 in mutual funds that invest broadly in companies that would benefit from crypto and blockchain technologies. This exemption is granted because they &#8220;are considered diverse funds.&#8221;<\/p>\n\n\n\n<p>Despite the apparent strict rules regarding employee participation in the crypto sector, the United States continues to integrate the cryptocurrency industry, with US President Joe Biden announcing a &#8220;whole-of-government&#8221; approach to digital asset regulation.<\/p>\n\n\n\n<p>According to Raymond Shu, co-founder, and CEO of Capital, recent legislative measures might make the United States one of the only Western countries to completely regulate and accept stablecoins and other digital currencies as legitimate financial assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a new legal notice, the US Office of Government Ethics says that any employee who owns cryptocurrency can&#8217;t work on Federal rules about crypto. Cryptocurrency owners working with the US government are now barred from working on rules and policies that could affect the value of cryptocurrency. According to a new advisory notice issued [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":31689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[10905,376,1305],"class_list":["post-31687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-policies","tag-cryptocurrencies","tag-united-states"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/07\/iStock-1195940447-1140x570-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/31687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=31687"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/31687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/31689"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=31687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=31687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=31687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}