Georgia Congressman Mike Collins Discloses Cryptocurrency Investments
Investment Details Revealed
As the 119th session of the United States Congress kicked off, Representative Mike Collins, a Republican from Georgia’s 10th congressional district, filed a financial disclosure report with the US House of Representatives on January 1. The report revealed that he had purchased between $1,001 and $15,000 worth of Ski Mask Dog (SKI), a token that was launched in May 2024.
According to the disclosure, Collins made three separate purchases of the SKI token, each valued up to $15,000, between December 1 and December 3, 2024. This period coincided with a significant surge in cryptocurrency prices following the U.S. elections.
Background and Election Context
Representative Collins, who secured his seat by defeating Democratic candidate Lexy Doherty with over 63% of the vote in November, has not explicitly linked his cryptocurrency investments to his electoral victory. However, his proactive engagement in the crypto market is clear, with disclosed investments in other digital assets such as Ether (ETH), Velodrome (VELO), Aerodrome Finance (AERO), and The Graph (GRT).
Under the Stop Trading on Congressional Knowledge (STOCK) Act, U.S. lawmakers are required to disclose their trading activities in stocks and cryptocurrencies to avoid potential conflicts of interest. As of January 3, 2025, Collins was the only Congress member to have filed such a report for the year.
Legislative Actions and Crypto Advocacy
While Collins has not made digital assets a central theme of his policy platform, he has supported legislation favorable to the crypto industry. This includes voting in favor of the Financial Innovation and Technology for the 21st Century (FIT21) Act. He has expressed intentions to “move fast” in addressing legislative matters in the current Congress session.
Collins joins other notable figures such as Texas Senator Ted Cruz and Wyoming Senator Cynthia Lummis, who have also disclosed their cryptocurrency investments. However, the approach to crypto advocacy and legislation varies widely among lawmakers.
Broader Legislative Context
Despite the growing interest in cryptocurrencies among some members of Congress, there is ongoing debate over the adequacy of current policies governing lawmakers’ investment disclosures. In July, a bipartisan group of U.S. senators urged House leaders to amend the STOCK Act to restrict stock trading by lawmakers, highlighting concerns over potential conflicts of interest. The future sessions of Congress may see proposals for similar restrictions on cryptocurrency trading.
The evolving landscape of crypto legislation continues to be a topic of significant interest both in the U.S. and globally, as regulations adapt to new financial technologies and market dynamics.
As the crypto market remains a complex and rapidly changing environment, the actions and policies adopted by lawmakers like Collins will be crucial in shaping the regulatory framework and the future of digital asset trading in the United States.
