Summary
- Texas State Representative Brandon Gill disclosed his purchase of Bitcoin worth between $100,000 and $250,000 after the federal reporting deadline.
- Under federal law, sitting legislators must report the acquisition of digital assets within 45 days, but Representative Gill reportedly failed to comply.
- Decrypt stated that Representative Gill is expected to pay a fine of about $200 for this matter.
On the 3rd (KST), the crypto-focused media outlet Decrypt reported that Texas State Representative Brandon Gill purchased Bitcoin (BTC) worth between $100,000 and $250,000 in two transactions on January 29 and February 27, but failed to report these acquisitions within the disclosure period required by federal law.
According to federal law, sitting legislators who acquire up to $500,000 in digital assets must report them to Congress within 45 days. However, Representative Gill reportedly made the disclosure only on the 2nd, well past the deadline.
The penalty, however, is minor. Decrypt stated that Representative Gill is expected to pay a small fine of about $200.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
