House Ethics Committee Report:

As the ISC (Ethics Committee Investigative Subcommittee) Report notes, Members are widely recognizable public servants, and their participation in commercial endorsements or promotions may create the perception that they are making use of their official position for commercial gain. While cryptocurrency promotion, particularly of a “meme coin,” may be a novel issue before the Committee, whether a Member may promote an asset in which that Member has a financial interest is not a novel question. The Committee’s established guidance provides that Members should not be actively involved in promoting or endorsing any goods or services in which the Member or the Member’s family has a financial interest.

This guidance applies to digital assets. The Committee joins the ISC in its hope that this matter will serve to educate all Members about the laws and rules designed to protect the integrity of the House against conflicts of interest, including as they apply to digital assets. The ISC could not come to a consensus as to whether to recommend the Committee reprove Representative Cawthorn in this matter. However, the ISC intended that its Report serve as an admonishment of Representative Cawthorn’s conduct.

Accordingly, the Committee hereby unanimously adopts the ISC’s Report, which shall serve as an admonishment of Representative Cawthorn, and directs Representative Cawthorn to repay $14,237.49 to an appropriate charitable organization not later than December 31, 2022, remit late fees of $1,000 to the U.S. Department of the Treasury within fourteen days of the release of this Report, and submit a periodic transaction report (PTR) disclosing his January 17, 2022 Let’s Go Brandon Coin (LGB Coin) transaction within fourteen days of the release of this Report.

Read the full report here.