The United States Office Of Government Ethics has banned employees in the White House, The Department of the Treasury as well as the Federal Reserve who own Securities such as Cryptocurrency and Stablecoins from participating in exercises bothering on its regulation.
This was consumed in an advisory released by the United States Office Of Government Ethics.
This is of particular interest to policies and regulations that might affect the value of the Securities.
The OGE claims that such employees may be inclined to tilt their attention towards such Stablecoins when in such situations.
The United States has banned all government officials who own cryptocurrencies from participating in exercises on the regulations of the Industry in the country.
According to this new advisory, owners of securities such as Cryptocurrency and Stablecoins may not work on regulations that affect the security.
Digital asset holders were earlier covered by the de minimis exemption, which allows them to participate in such regulation and policy exercises irrespective of their interest in cryptocurrency or stablecoins.
The advisory cited an instance whereby an employee who holds a crypto asset is asked to participate in an exercise on its regulation or policy framework.
In this instance, the OGE argued that the employee can only participate if he or she can tilt their interest from that stablecoin.
