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Bars top federal officials and their immediate family members from issuing, sponsoring, or promoting financial assets for profit. It covers products like securities, commodities, cryptocurrencies, NFTs, and similar financial instruments.
Applies during and around their time in office and sets teeth for enforcement: civil fines up to $250,000 per violation, mandatory payback of ill‑gotten profits to the U.S. Treasury, authority for the Attorney General to sue, and a private right of action. It also ties certain criminal offenses (such as bribery and insider trading) to a $1,000,000 loss threshold for some crimes. The goal is to prevent personal financial gain from public office and reduce risks of corruption and foreign influence.
Referred to the Committee on Oversight and Government Reform, and in addition to the Committees on the Judiciary, and House Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced February 27, 2025 by Sam T. Liccardo · Last progress 1 year ago