Congressional Blockchain Caucus co-chairman ordered to pay $50K fine following House ethics probe

Republican Congressman David Schweikert of Arizona was ordered to pay $50,000 in fines and was issued a formal rebuke by a House of Representatives ethics panel following a two-year investigation.

As reported by Politico, Schweikert was found to have violated 11 ethics rules and standards, including those related to campaign finance and reporting errors. The investigation was related to a former aide to Schweikert, Oliver Schwab, who previously served as his chief of staff.

“We are pleased the Committee has issued their report and we can move forward from this chapter,” a Schweikert spokesperson told Politico. “As noted in the review, all issues have been resolved and Congressman Schweikert will continue working hard for Arizona’s 6th District.”

Schweikert is one of a group of co-chairmen of the Congressional Blockchain Caucus, which advocates for and advances measures related to the technology and its applications. Earlier this year, Schweikert introduced a bill that, if passed, would create a de minimis tax exemption for cryptocurrency transactions.