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AOC Reveals That She Does Not Own Bitcoin Because She Wishes To Be An Unbiased Lawmaker

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The New York Democrat, who has previously stated that it is “absolutely insane” that members of Congress can own and trade stocks, feels the same holds true for digital assets.

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On Monday, Ocasio-Cortez responded to a fan who questioned if she invests in bitcoin in an Instagram story.

“Because we have access to sensitive information and upcoming policy, I do not believe members of Congress should hold/ trade individual stock and I choose not to hold any so I can remain impartial about policymaking,” she said.

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“I also extend that to digital assets/ currencies (especially because I sit on the Financial Services Committee).”

“So the answer is no bc I want to do my job as ethically and impartially as I can,” the lawmaker added.

Ocasio-Cortez is a member of the important House Financial Services Committee, which means she has a say in how Wall Street and financial institutions are regulated.

The US representative has already highlighted worries about legislators’ investments. In August, she stated that members of Congress “shouldn’t be allowed” to buy or sell individual stocks.

Senator Rand Paul made the remarks after revealing his wife’s investment in coronavirus drugmaker Gilead. Paul’s statement came 16 months after the STOCK Act (Stop Trading on Congressional Knowledge Act) set a 45-day timeframe to reduce the potential of insider trading.

Not all politicians believe that bitcoin investments raise ethical concerns. Republican Sen. Cynthia Lummis, an outspoken proponent of cryptocurrency, owns bitcoin. Multiple crypto-friendly regulations have been established in her home state of Wyoming in recent years, including one that permitted the first US fully regulated bank to hold both crypto and fiat currencies.

On Tuesday, Bitcoin recovered from its weekend sell-off to trade above $50,000. According to CoinMarketCap data, it was recently trading 8% higher at $51,511 but is down 18% in the previous month.