Bill > HB2037

This bill updates Pennsylvania's ethics standards and financial disclosure laws to address digital assets, expanding definitions and imposing new restrictions on public officials. Specifically, the bill defines "digital asset" to include cryptocurrencies, meme coins, nonfungible tokens (NFTs), and stablecoins, and prohibits public officials or their immediate family members from issuing, creating, sponsoring, endorsing, or promoting digital assets in which they have a financial interest during their term of service. The legislation requires public officials to divest from such digital assets within 90 days of taking office or from the bill's effective date, and mandates that financial disclosure statements now include details of digital asset holdings exceeding $1,000. The bill establishes penalties for violations, with potential civil penalties up to $50,000 for infractions related to digital asset conflicts of interest, and criminal penalties of up to $10,000 and/or five years imprisonment for other restricted activities violations. These provisions aim to enhance transparency and prevent potential conflicts of interest involving emerging digital financial technologies. The bill will take effect 60 days after its passage.

Government Affairs

https://www.palegis.us/legislation/bills/2025/hb2037