The U.S. Office of Government Ethics issued a legal advisory stating that government employees who hold cryptocurrency may not work on policy or regulation that could potentially impact the value of their holdings. They also clarified that “Cryptocurrencies and stablecoins do not meet the definition of ‘publicly traded securities’ for purposes of these exemptions. This is true even if individual cryptocurrencies or stablecoins constitute securities for purposes of the Federal or state securities laws.“The OGE’s purview is limited to the executive branch, meaning that although this impacts White House employees and federal agencies like the Federal Reserve and Treasury Department, it unfortunately does not apply to legislators.