Cryptocurrency Corruption prevention bill moves through State Government Committee

Rep. Ben Waxman    June 10, 2026 | 11:30 AM

Legislation by state Rep. Ben Waxman. D-Phila., that would enhance anti-corruption laws for public officials was voted out of the State Government Committee today.

The bill would prohibit a public official from creating or promoting cryptocurrency in which they have a financial interest during their term of service.

“With the rise of new forms of financial assets, particularly cryptocurrencies, our anti-corruption laws need to be strengthened to ensure no public official takes advantage of their position of power for personal gain,” Waxman said. “When public officials use their position or influence to create or promote a cryptocurrency, it creates the perception of self-enrichment, insider influence, or misuse of public resources for private gain.”

The bill builds on existing state laws that already prohibit public officials from engaging in certain financial activities.

The bill now moves to the House chamber for consideration.

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