Crypto investors who are government employees were banned from working on the DFA regulation in the US

The directive applies to all employees of the White House and federal agencies, including the Fed and the Treasury Department

07.07.2022 - 07:30

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What’s new? The US Office of Government Ethics (OGE) has issued a legal advisory notice stating that civil servants investing in cryptocurrencies can no longer work on regulating this industry. It is clarified that in question are instances when the policy implemented by officials could affect the value of their digital assets.

The OGE’s ruling

What else did the OGE say? The directive applies to all employees of the White House and federal agencies, including the Federal Reserve System (Fed) and the Treasury Department. However, the ban will not affect federal employees who have invested less than $50 000 in mutual funds related to the crypto sector.

What happened before? In February, the Fed approved a law barring senior officials from trading cryptocurrencies as well as stocks and bonds. The restrictions affected Fed officials, regional bank presidents such as the Boston or St. Louis Fed, as well as officials’ immediate family members — spouses and children.

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