As U.S. lawmakers prepare to begin the 119th session, a representative from Georgia submitted a report on his cryptocurrency transactions on the very first day of the new year.

In a public financial report submitted to the U.S. House of Representatives on January 1, Representative Mike Collins revealed that he purchased Ski Mask Dog (SKI), a new token released in May 2024, valued between $1,001 and $15,000.

According to the report — as well as the previous report submitted in December — Mr. Collins made three purchases, each up to $15,000, from December 1 to December 3, just a month after the midterm elections, when the value of many cryptocurrencies was on a strong upward trend.

Collins' financial disclosure regarding the Ski Mask Dog token | Source: U.S. House of Representatives

Representative Collins, a Republican, was re-elected in Georgia's 10th Congressional District in the November elections, defeating Democratic candidate Lexy Doherty with over 63% of the votes.

It is currently unclear whether this investment is related to his election victory, but in the past, he has also disclosed transactions involving cryptocurrencies, including Ether (ETH), Velodrome (VELO), Aerodrome Finance (AERO), and The Graph (GRT).

According to the House's Stop Trading on Congressional Knowledge Act (STOCK Act), U.S. lawmakers primarily must disclose stock and cryptocurrency transactions. As of January 3, Collins was the only member of Congress to submit a financial report for the year 2025.

Before November 5, the price of the SKI token traded below $0.01 since its launch in May. However, afterwards, the price of this token surged, reaching a historic peak of over $0.36 on December 5, before adjusting down to around $0.25 at the time of writing.

SKI 1-Day Price Chart | Source: TradingView

Will U.S. lawmakers take steps to ban cryptocurrency trading?

Although Collins, along with Texas Senator Ted Cruz and Wyoming Senator Cynthia Lummis, publicly disclosed their cryptocurrency investments, he has no intention of making digital assets a policy focus during his term.

In the past, he has voted in favor of bills that the crypto community highly appreciates, including the Financial Innovation and Technology for the 21st Century Act (FIT21), while stating that he would act swiftly in the 119th Congress.

However, some members of Congress have criticized the current investment disclosure policy, arguing that it poses a conflict of interest throughout their term. In July, a bipartisan group of senators urged House leaders to amend the STOCK Act to stop allowing lawmakers to engage in stock trading. It remains unclear whether Congress in the upcoming session will consider similar amendments.



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