PORTFOLIO Act

The PORTFOLIO Act (HR 389) restricts federal officials from owning or trading certain financial assets to prevent conflicts of interest. It applies to federal employees, Members of Congress, the President, and Vice President, requiring them to divest from "covered investments" like stocks, commodities, futures, and cryptocurrency within 180 days of becoming a covered person or the bill's effective date. The law allows placement in qualified blind trusts as a compliance method and establishes $1,000 penalties for violations that increase for continued noncompliance. It also updates financial disclosure requirements to include cryptocurrency and digital assets, and mandates public disclosure of enforcement actions and fees. The bill aims to strengthen ethics oversight by creating clearer rules and greater transparency around financial holdings of government officials.