Employees of the American government who work on laws and policies governing digital assets are not allowed to possess cryptocurrencies. In response to what is effectively a conflict of interest, the government’s Office of Government Ethics (OGE) has enacted new regulations. Stablecoins are one of several components of the cryptocurrency market covered by the regulation. The notice reads, “An employee who holds any amount of a cryptocurrency or stablecoin may not participate in a particular matter if the employee knows that particular matter could have a direct and predictable effect on the value of their cryptocurrency or stablecoins.” Stablecoins And Cryptocurrencies Are Universally Free According to the announcement, stablecoins and cryptocurrencies are universally free from the de minimis exemption, which permits owners of securities to work on policy linked to such protection if they own an amount below a specific threshold. Every agency of the government must abide by the rule. However, government personnel can work on related policies if they sell their interests. The United States Treasury, the Federal Reserve, and the White House are just a few federal government agencies that must abide by the provision. Government Personnel Allowed To Hold Mutual Funds Government personnel is allowed to hold up to $50,000 in mutual funds in businesses operating in the cryptocurrency industry or close by, which is a significant excep...
