WSJ: U.S. Republican Party submits "Insider Trading Ban Act" bill proposal plan

BlockBeats News, January 12 — According to The Wall Street Journal, House Republicans, including Republican leadership, are jointly supporting a stock trading restriction bill, which they believe is the best solution to address the longstanding issue of lawmakers potentially profiting from insider information. House Administration Committee Chair and Wisconsin Republican Congressman Brian Stile spearheaded the drafting of this bill aimed at prohibiting members of both houses of Congress from increasing their holdings in individual stocks. The bill has received support from House Republican leadership and has been recognized by various factions within the Republican Party. The proposal, titled the “Insider Trading Ban Act,” is scheduled to be formally introduced on Monday.

However, under this plan, while members of Congress will be prohibited from purchasing additional individual stocks, they will still be allowed to buy and sell diversified investment funds.