United States Senator Cynthia Lummis, a Republican from Wyoming, has revealed that she purchased Bitcoin (BTC) worth between $50,001 and $100,000 on Aug. 16, according to documents filed on Thursday.
The disclosure was part of The Stop Trading on Congressional Knowledge, or STOCK, Act, which prohibits the use of non-public information for profit. The STOCK Act was signed into law under the Obama administration in April 2012 and is designed to combat insider trading.
As CNBC reported, Lummis’ purchase was disclosed outside of the 45-day reporting window stipulated in the Act. The reporting delay was due to “a filing error,” a spokesperson said.
Lummis’ made the purchase less than two weeks after she and other senators attempted to insert a pro-crypto amendment into President Biden’s infrastructure