As members of the U.S. Congress prepare to begin the 119th session, one Georgia lawmaker filed a disclosure statement regarding his exposure to cryptocurrencies on New Year's Day.
In a financial disclosure report filed with the U.S. House of Representatives on January 1, Representative Mike Collins said: revealed He had purchased Ski Mask Dog (SKI), a token launched in May 2024, for between $1,001 and $15,000.
According to Congressman Collins' report and a report filed in December: made He made three purchases of tokens worth up to $15,000 each between December 1 and December 3, when the prices of many cryptocurrencies were skyrocketing, about a month after the US election.
Ski Mask Dog Token Financial Disclosure by Rep. Mike Collins. sauce: US House of Representatives
Collins, a Republican, ran for reelection in Georgia's 10th Congressional District in November, defeating Democratic candidate Lexi Dougherty with more than 63% of the vote.
It is unclear whether his investments led to his election victory, but during his tenure he has disclosed purchases in Ether (ETH), Velodrome (VELO), Aerodrome Finance (AERO), and The Graph (GRT). Ta.
Under the Stop Trading on Congressional Knowledge (STOCK) Act, U.S. lawmakers are primarily required to disclose their purchases and sales of stocks and virtual currencies. As of January 3, Congressman Collins appears to be the only lawmaker to have submitted a report in 2025.
Related: President Biden proposes ban on Congressional stock trading: Report
Until the US election on November 5th, SKI had been trading at less than $0.01 since its inception in May. However, the token price soared to an all-time high of over $0.35 on December 5th, and has fallen to around $0.25 at the time of publication.
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Congressman Collins, along with Sens. Ted Cruz of Texas and Cynthia Lummis of Wyoming, have announced investments in cryptocurrencies, but he does not appear to have made digital assets a central part of his policy platform. is.
He has voted in favor of bills praised by crypto industry insiders, such as the Financial Innovation and Technology for the 21st Century (FIT21) Act. said He intended to “act quickly” in the 119th Congress.
However, some members of Congress have strongly criticized existing policies regarding investment disclosure, citing the potential for conflicts of interest to arise while in office. In July, a bipartisan group of U.S. senators called on House leadership to amend stock laws to prohibit stock trading by members of Congress. It is unclear whether lawmakers in the next Congress will consider similar legislation.
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