Congresswoman Violates STOCK Act With Late Trade Disclosures: Purchases Include Bitcoin ETF

As legislation in Congress heats up to ban elected officials from buying and selling stocks, several members have violated the STOCK Act in 2025, failing to disclose their transactions in a timely fashion. Here's the latest violation.

What Happened: Stocks and options bought by members of Congress continue to gain attention from retail traders, as trades can sometimes be based on inside information or committee assignments.

Other times, the transactions end up showing losses or are done by spouses or portfolio managers, with Congress members having less insight into why trades were made.

For Congresswoman Sheri Biggs (R-S.C.), she may not have been aware of all of the trades made in 2025 by her husband and portfolio managers, but her recent disclosure violated the STOCK Act.

Benzinga reached out to Biggs for comment and did not hear back.

The STOCK Act makes it mandatory for members of Congress to disclose their transactions within 45 days. Violations lead to a $200 late fee for the first offense.

A look at the Benzinga Government Trades page shows Biggs recently disclosing multiple transactions dating back to March 2025.

Among the transactions were selling stocks like Apple Inc (NASDAQ:AAPL), Johnson & Johnson (NYSE:JNJ), Microsoft Corporation (NASDAQ:MSFT) and Berkshire Hathaway (NYSE: BRK-B) in March, along with buying U.S. Treasury notes in March and May.

Also included in the disclosure was a transaction from Biggs for buying $100,000 to $250,000 worth of the iShares Bitcoin Trust ETF (NASDAQ:IBIT) on July 9, 2025. The transaction and many others list the spouse, which could mean it was the congresswoman's husband who made the trade.

Did You Know?

Congress Is Making Huge Investments. Get Tips On What They Bought And Sold With Our Easy-to-Use Tool

Why It's Important: Waiting months to disclose buying and selling stocks leads to more distrust from the public in members of Congress when it comes to their trading activity.

"We just came across new STOCK Act violations. Representative Sheri Biggs filed dozens of trades made past the reporting deadline. Her husband bought up to $250K of Bitcoin, $IBIT, on July 9^th. Pro-crypto legislation was passed a week later," Quiver Quantitative tweeted.

Benzinga previously shared transactions made by Sen. Markwayne Mullin (R-Okla.) that were disclosed two or more years after they were made.

Rep. Lisa McClain (R-Mich.) also disclosed stock transactions late, including a trade of Palantir Technologies (NASDAQ:PLTR), which is up over 600% since the transaction.

Benzinga will continue monitoring the trading activity of members of Congress.

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