US Senate to Vote on Insider Trading Prohibition Act
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US Senate to Vote on Insider Trading Prohibition Act
On Wednesday local time, the U.S. House of Representatives passed a bill titled the "Ban on Insider Trading Act" with a vote of 232 to 198. This bill is the first congressional stock trading ban bill to be voted on in a full House session, aimed at restricting members of Congress and their families from buying and selling stocks. The bill will next be submitted to the Senate for deliberation. In the "Ban on Insider Trading Act" proposed this time, Republicans proposed moderate restrictions, with no mandatory liquidation requirements, prohibiting only new purchases, while existing stock holdings may be held long-term and sold freely.
Navigating Web3 tides with focused insightsTechFlow news, on July 23, Wednesday local time, the US House of Representatives passed a bill named the "Prohibiting Insider Trading Act" with a vote result of 232 to 198. This bill is the first congressional stock trading ban bill to be voted on in a full House session, aimed at restricting US Congress members and their families from buying and selling stocks. Next, the bill will be submitted to the Senate for deliberation. In the proposed "Prohibiting Insider Trading Act", the Republican Party proposed moderate constraints, with no mandatory liquidation requirements, only prohibiting new purchases, while existing stocks can be held long-term and sold freely.
Analysis suggests that at the Senate level, ordinary bills require 60 votes to end a filibuster, and the Republican Party itself does not hold an absolute majority, lacking sufficient seats. Meanwhile, the Democratic Party may continue to vote against it unanimously, and the bill may ultimately stop in the Senate. Regardless, this is still an important milestone event for the US to strengthen the management of trading by government personnel. (Yicai Global)
