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US Congressman from Alabama Adds Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE) to Crypto Portfolio

UTC by Bhushan Akolkar · 2 min read
US Congressman from Alabama Adds Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE) to Crypto Portfolio
Photo: U.S. Representative Barry Moore / Facebook

As per the recent disclosure under the 2012 Stock Act, Barry Moore’s crypto holdings stand anywhere between $5000-$75,000.

Lawmakers from the US are warming up to cryptocurrencies so much so that they have started adding altcoins to their crypto portfolios. Barry Moore, the US congressman from Alabama revealed his latest crypto purchases in a disclose.

The filing notes that the Alabama congressman added Ethereum (ETH), Cardano (ADA), and Dogecoin (DOGE) to his crypto portfolio. The disclosure filed with the Clerk of the House of Representatives also shows that More purchased thousands of dollars worth of these altcoins in the period between May and June.

On May 5th, 2021, Moore purchased around $15,000 worth of Ethereum (ETH). Besides, the congressman poured an equal amount on buying Cardano during May 10,11,13. A month later in June, Moore purchased $1000 worth of Dogecoin (DOGE).

As per the disclosure, Moore’s total crypto holdings stand anywhere between $5000-$75,000. The disclosure comes in line with the Stock Act passed in 2012 which also makes it mandatory for federal lawmakers to report their financial trades. The intent behind this is to limit the possibility of any kind of insider trading.

The Stock Act requires reporting “on trades “not later than 30 days after receiving notification of any transaction required to be reported under section 102(a)(5)(B), but in no case later than 45 days after such transaction.”

Unfortunately, it seems that post-Moore’s purchases, the crypto market has corrected further.

US Congressman and Lawmaker Community and Crypto

Several of the US lawmakers representing different states have turned positive about crypto in recent times. Wyoming Senator Cynthia Lummis has been quite vocal about her support for Bitcoin.  The Senator has also been eager to bring new amendments to Wyoming’s law structure in order to accommodate crypto.

Recently, the crypto-friendly state gave legal recognition to the first DAO dubbed the American CryptoFed DAO. By introducing this DAO law, Wyoming has made it clear that it is open to crypto innovation.

On the other hand, Senator Cynthia Lummis has also invited Bitcoin miners to her state following the recent crackdown in China. The senator has promised to work upon the use of clean energy solutions for crypto mining.

At the same time, Miami Mayor Francis Suarez has openly showered his love for Bitcoin. In the past, Suarez has also suggested including Bitcoin in the city’s financial framework. Much recently, Suarez spoke about using Miami’s excess nuclear energy to facilitate clean energy crypto mining in the city.

Altcoin News, Cryptocurrency news, Ethereum News, News
Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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