US senator Cynthia Lummis reveals purchase of $100,000 in Bitcoins
Republican Senator Cynthia Lummis, of Wyoming, revealed that she has made a significant purchase of Bitcoin, adding the equivalent of $100,000 to her portfolio.
According to a report filed to the SEC on Thursday, Lummis fetched between $50,000 and $100,000 on Aug. 16. Under the protocol, the purchase was carried out through the River Financial brokerage platform.
Under the Stop Trading on Congressional Knowledge Act of 2012 (STOCK Act), U.S. senators and senior staff with earnings above $119,554 are required to disclose certain financial transactions. This requirement includes “any purchase, sale, or exchange of any stock, bond, commodities future, and other securities if the transaction exceeds $1,000.”
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Although the purchase of Lummis appears to have been disclosed outside the 45-day reporting deadline, the Senate spokesman told CNBC that the delay was due to “a filing error.”
“Once we realized it we worked with the Ethics committee to fix it,” a spokesperson at Lummis’ office said. “It was an honest mistake, and the issue has been resolved without penalty.”
She has a long run with bitcoin, speaking at the Wyoming Blockchain Stampede event in September 2020, the Republican senator said that she bought her first Bitcoin in 2013, when the world’s leading cryptocurrency traded at $330.
With informations: Decrypt