The senator bought between $50,001 and $100,000 worth of the world’s largest cryptocurrency on Aug. 16 from bitcoin exchange River Financial, according to a mandatory filing.
At the time of the purchase, the price of bitcoin was a little over $45,000 per coin, almost 21 percent lower than today’s price of more than $55,500 per coin.
Lummis made the bitcoin purchase less than two weeks after she and two other senators tried unsuccessfully to include an amendment in the massive infrastructure bill that would have narrowed the definition of who is a cryptocurrency broker.
Proponents of the crypto sector supported the amendment because it was seen as limiting regulation on everyone who wasn’t defined as a broker under the amendment.
Lummis has long touted the crypto sector and bitcoin specifically. She first bought bitcoin in 2013 for about $330 per coin, she previously told CNBC. As of the end of June, she said she owned five bitcoins.
Her home state of Wyoming has also passed crypto-friendly laws in recent years, including one allowing fully regulated US banks to hold both crypto and fiat currencies.
“I would like to see cryptocurrency, like bitcoin, become part of a diversified asset allocation that are used in retirement funds and other opportunities for people to save for the future,” Lummis said in June at CNBC’s Financial Advisor Summit.
But Lummis’ disclosure of the August bitcoin purchase was not revealed within the 45-day deadline set by The Stop Trading on Congressional Knowledge Act.
A spokesperson at Lummis’ office told CNBC that the delay was due to “a filing error.”
“Once we realized it, we worked with the ethics committee to fix it,” the spokesperson said. “It was an honest mistake, and the issue has been resolved without penalty.”
It’s not the first time her disclosures have fallen afoul of the STOCK Act.
In April, she submitted her annual financial disclosure form, but failed to disclose her bitcoin holdings. She later amended the disclosure to reveal that she owned between $100,000 and $250,000 worth of bitcoin.
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