Republican Rep. Madison Cawthorn of North Carolina appears to have violated a federal conflict-of-interest law by failing to report his stake in a cryptocurrency named for the anti-Joe Biden slogan "Let's Go Brandon.".
By law, members of Congress must quickly and publicly report their crypto purchases in certified congressional documents, known as periodic transaction reports.
The purchase appears to have happened in late December, according to Cawthorn's Instagram profile.
Cawthorn could've lied about purchasing the crypto, or he could've told the truth but failed to file the required documents.
If he did make the purchase, he could be penalized over explicit House rules on cryptocurrency disclosure.
News about the crypto purchase was originally published in the Washington Examiner, which reported that Cawthorn may be in violation of insider-trading laws.
If Cawthorn violated the STOCK Act, he would join 59 other members of Congress who have violated the 2012 Stop Trading on Congressional Knowledge Act. »