Texas Republican Representative Brandon Gill is facing scrutiny after filing late disclosures for up to $500,000 in Bitcoin purchases, potentially violating federal law.
Gill, a first-term House member known for his bill proposing President Donald Trump’s face on the $100 bill, has reported two Bitcoin (BTC) purchases, each valued between $100,001 and $250,000, made on Jan. 29 and Feb. 27.
Both trades were disclosed weeks past the 45-day deadline required by the Stop Trading on Congressional Knowledge (STOCK) Act, a law aimed at curbing insider trading and financial conflicts among lawmakers.
Notably, Gill’s late January purchase occurred shortly after Trump signed an executive order promoting US leadership in digital assets. His late February buy came just ahead of Trump’s announcement of a “strategic Bitcoin reserve.”
Bitcoin traded around $102,000 and $85,000, respectively, on those dates. At the time of writing, Bitcoin traded above $105,000, according to data from CoinMarketCap.
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Gill discloses more Bitcoin purchases
In the disclosure, Gill also revealed two additional Bitcoin purchases from May, one for up to $250,000 and another for up to $100,000, both filed on time.
Beyond crypto, Gill also disclosed positions in the Invesco S&P 500 Equal Weight ETF (RSP) and holdings in the TOIXX money market fund, all filed on time.
Notably, the fine for late STOCK Act filings is typically just $200. In a June 2 post on X, investment research firm Quiver Quantitative called the penalty a “joke.”
“We have seen thousands of STOCK Act violations since we started writing code to track congressional stock trading,” Quiver Quantitative added.
Cointelegraph was unable to contact Gill’s office for comment.
Notably, Gill serves on the Committee on Oversight and Government Reform, which is the main investigative committee of the US House of Representatives. He also serves on two other House committees, Budget and Judiciary.
The 31-year-old congressman has been a vocal crypto supporter. “Cryptocurrency plays a vital role in today’s monetary system. It offers permission-less peer-to-peer transactions in the same form as cash transactions,” he previously wrote on X.
In addition to his Bitcoin activity, Gill is the sponsor of legislation promoting government transparency, including the “Putting Trust in Transparency Act,” which would require public disclosure of nonprofit contributors.
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Gill has deep ties to Trump’s inner circle
Gill’s ties to Trump’s inner circle run deep. He is the son-in-law of conservative filmmaker Dinesh D’Souza, who was pardoned by Trump in 2018 after a campaign finance conviction. Employees of D’Souza Media were among Gill’s top donors in 2024.
Trump has also faced mounting scrutiny over his personal use of cryptocurrency, with critics questioning whether his promotion of crypto projects could present conflicts of interest or be used for personal financial gain.
Gill joins a growing list of lawmakers who have violated the STOCK Act this year. Several others, including Representatives Jamie Raskin, Dwight Evans and Neal Dunn, have also filed late trade disclosures.
Meanwhile, a bipartisan push to ban members of Congress and their families from trading individual stocks and cryptocurrencies is gaining momentum on Capitol Hill.
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