Member of the House of Representatives from Texas Brandon Gill, belonging to the Republican Party, was tested in connection with the belated reporting of bitcoins in the amount of up to $ 500,000.

Gill, who offered to place the image of US President Donald Trump for 100-dollar bills, announced two purchases of bitcoins in the amount of $ 100 001 to $ 250,000 each. The transactions were made on January 29 and February 27, 2025. Both transactions were disclosed only a few weeks after the 45-day submission of reporting required by the Law on Trading Trade based on Congress (Stock). This law is directed against insider trade, as well as to prevent the conflict of financial interests between legislators.

In January, Gill made the purchase of bitcoins a few days after Trump signing the decree on the development of the crypto industry. And the purchase of cryptocurrencies at the end of February occurred just before Trump announced a strategic reserve in bitcoins. Bitcoin traded about $ 102,000 and $ 85,000 on the dates of purchases, respectively. When reporting, Gill opened two more additional purchases of bitcoins made in May. One was up to $ 250,000, and the other – up to $ 100,000. The congressman reported on these transactions on time.

The penalty for untimely reporting in accordance with the law on securities is only $ 200. The research company Quiver Quantitate called this fine a “joke”. As the company’s experts noted, they have discovered thousands of violations of the law on securities since they began to write a code to track trading in the Congress.

The 31-year-old congressman is considered a supporter of cryptocurrencies. Previously, he wrote on social networks X that cryptocurrencies play an important role in the monetary system – using digital assets, one can perform single -rat transactions that do not require permission, as is the case when paying in cash.

Recently, US Vice President JD Vance also spoke in support of cryptocurrencies, saying that they are able to become a reliable tool for protecting from growing inflation and provide Americans with financial freedom.