Overview

• HB1812, filed Aug. 20 by Rep. Ben Waxman, would require disclosure of digital-asset holdings over $1,000 and divestiture above that threshold within 90 days of taking effect.
• The proposal bans public officials from crypto transactions during service and for one year after leaving office, with restrictions extending to immediate family members.
• The bill’s broad definition of digital assets covers cryptocurrencies, memecoins, NFTs, stablecoins, and indirect holdings via companies, trusts, funds, derivatives, and ETFs.
• Violations could bring felony exposure with fines up to $10,000 or up to five years in prison, plus separate civil penalties up to $50,000 for other breaches.
• The legislation was referred to the Pennsylvania State Government Committee and has not advanced, as supporters tie the push to ethics concerns and national proposals responding to high-profile federal crypto activity.