According to Odaily, a disagreement has arisen between the initiators of a House stock ban legislation over whether the bipartisan bill restricting legislators' stock trading should also apply to their held cryptocurrencies. The bill, spearheaded by Democratic Representative Abigail Spanberger of Virginia and Republican Representative Chip Roy of Texas, requires stocks to be placed in a blind trust to prevent legislators from trading with privileged information.
Spanberger insists that stocks and cryptocurrencies are similar as their values can be influenced by legislators. This conflict is the latest indicator of the emerging cryptocurrency industry's growing prominence in Washington. At the same time, over $100 million has been used to support the election of crypto-friendly politicians who may help create a more favorable regulatory environment. However, Roy does not share this view.