Republican Rep. Boebert failed to disclose eight crypto trades in 2021

Colorado Republican Representative Lauren Boebert failed to file her “Periodic Transaction Report” on time for investments made in 2021, according to her financial accounting submitted last week.

The US House of Representatives requires any trade conducted by representatives, a spouse or a dependent child must be reported within 45 days under the Stop Trading on Congressional Knowledge Act of 2012, commonly referred to as the STOCK Act.

The INVENTORY Act allows the reporting of financial transactions in intervals instead of numbers. Instead of giving a number like $6,000 invested in NVDA, reps simply need to report a range, like $1,000 to $15,000 invested in NVDA. Failure to do so will result in a $200 fine.

In her 2021 filing, Boebert disclosed assets worth between $5,000 and $80,000 in stocks, cryptocurrencies and mutual funds in her financial statements.

Furthermore, these investments were routed through accounts owned by her husband, Jayson Boebert.

Using the popular investment app Robinhood, Jayson Boebert made eight cryptocurrency transactions of between $1,001 and $15,000. These transactions occurred between May 5 and May 7, 2021.

Of the eight transactions, four were buys, and four were sells, but none resulted in more than $200 in profit per submission.

Despite the minimal gains, Lauren Boebert failed to report these transactions.

The US representative did not respond Decrypt their request for comment.

“It’s a huge red flag that all these assets were obtained in one year, but no reporting on it,” Kedric Payne, vice president of the Campaign Legal Center and a former deputy administrative counsel for the Office of Congressional Ethics, told Colorado Sun.

Payne also called the US representative’s failure to report on transactions “disturbing”.

According to Payne, complaints about late or incorrect financial reporting investigated by the Office of Congressional Ethics were rarely considered by the House Ethics Committee.

“The Office of Congressional Ethics investigated several members for violations of the Corporations Act, but then the Committee on Ethics dismissed those cases,” Payne told Colorado Sun.

Politicians are looking at crypto investments

Boebert is not the only US representative dabbling in crypto. Actually nine different ones representatives have reported trading in cryptocurrencies in its financial disclosures since 2020.

Senator Ted Cruz, a Republican from Texas, reported buying between $15,000 and $50,000 in Bitcoin on January 25, 2022.

Pat Toomeya Republican senator from Pennsylvania, made investments in Grayscale Ethereum Trust (ETH) and Grayscale Bitcoin Trust (BTC) in June 2021.

Senator Cynthia Lummisa Republican from Wyoming, reportedly invested between $50,001 and $100,000 in Bitcoin on August 16, 2021.

Lummis is also working on a bipartisan bill with Democratic Sen. Kirsten Gillibrand that would see cryptocurrencies fall under the CFTC’s jurisdiction instead of the SEC’s. ONE summary of the bill circulated by Senators Lummis and Gillibrand explains that it “gives the CFTC exclusive spot market jurisdiction over all fungible digital assets that are not securities, including ancillary assets.”