News

ChainCatcher reports, according to information on the official website of the U.S. Congress, the 119th Congress Bill S.1498, the "HONEST Act" (Halting the Ownership of Non-Ethical Securities Trading Act), was added to the Senate legislative calendar on December 10 and has entered the subsequent review stage. The bill was introduced by Republican Senator Josh Hawley in April 2025, has passed the Senate Homeland Security and Governmental Affairs Committee review, and was submitted with amendments attached. The core objective of the bill is to prevent insider trading and conflicts of interest among public officials. It proposes to prohibit members of Congress, the President, the Vice President, and certain federal officials from holding or trading financial assets that could lead to conflicts of interest during their tenure, including stocks, derivatives, futures, etc., while providing exemptions for government bonds and broadly diversified funds. The bill also requires relevant personnel to dispose of restricted assets within a specified period and to make annual compliance disclosures. Violations will be subject to penalties such as fines or forfeiture of gains. This legislation is regarded as a strengthened supplement to the existing STOCK Act, aiming to enhance government transparency and ethical standards, and to address long-standing public concerns regarding securities trading and potential insider trading by members of Congress.