Cryptocurrency corruption prevention bill passes the House

Pennsylvania House Democratic Caucus    June 29, 2026 | 3:30 PM

Legislation by state Rep. Ben Waxman. D-Phila., that would enhance anti-corruption laws for public officials passed the House today.

The bill would prohibit a public official from creating or promoting cryptocurrency in which they have a financial interest during their term of service.

“Our anti-corruption laws must be strengthened to address the emergence of new financial assets, including cryptocurrencies, to prevent public officials from abusing their position of authority for personal financial benefit,” said Waxman.  “Public officials should never use the power or influence of their office for private gain, including to develop or promote a cryptocurrency.”

The bill builds on existing state laws that already prohibit public officials from engaging in certain financial activities.

The bill now moves to the Senate for consideration.

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