The US government’s ethics watchdog will consider crypto investments when determining conflict of interest.
According to the U.S. Office of Government Ethics (OGE), federal employees who own cryptocurrencies or invest in the sector should recuse themselves from related issues.
- Crypto assets are not considered publicly traded securities, which would generally be exempt from OGE regulation, according to the July 5 Memo.
- Cryptocurrency and stablecoin development companies can offer publicly traded stock to their employees.
- Those who own mutual funds directly involved in crypto and related sectors over the US $50,000 exemption limit must recuse themselves.
- Funds that invest broadly in companies that would benefit from or use blockchain technology are considered diversified funds by the OGE.
- The OGE memo stated that employees can own mutual funds that invest in the stocks of crypto-related computer hardware companies.