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Debate over STOCK Act and cryptocurrencies erupts as Democrats press conflicts-of-interest oversight
Summary
Representative Brad Sherman offered amendments urging hearings on the STOCK Act and whether members should be barred from trading individual stocks and cryptocurrencies; lawmakers debated conflicts of interest and memes coins, and ranking Democrats pressed the committee to investigate new president-linked coins.
Representative Brad Sherman (D-CA) sought to add the STOCK Act to the committee's oversight plan, asking for hearings to consider whether the law should prohibit members from trading individual stocks, commodities or cryptocurrencies. Sherman and other Democrats said the rise of speculative tokens and "meme coins" plus recent public statements by…
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