For Immediate Release
August 5, 2021
Compass Colorado calls on Polis to disclose crypto holdings & financial exposure to sector
DENVER, CO – In light of Gov. Polis’s decision to publicly lobby Congress on cryptocurrency regulations, Compass Colorado is calling on the Governor to disclose any financial exposure he has to the sector.
On Thursday Polis encouraged Congress to adopt an amendment to the $1 trillion infrastructure bill that would clarify IRS reporting rules for entities involved in the transfer of digital assets.
Gov. Polis, would you be willing to disclose your crypto holdings to reveal your financial stake in the matter? You have advocated for congressional transparency in the past, but I cannot find information about your personal involvement with the industry.
— ms. k (she/ella) (@shannon_khoury) August 5, 2021
Current language in the bill regarding tax enforcement on crypto transactions has sparked concern within the industry that new IRS definitions of crypto brokers is overly broad, which could negatively impact miners, stakers, and other entities that facilitate the transfer of cryptocurrencies.
Polis’s decision to publicly lobby Congress on the matter raises an obvious question: does the Governor have a financial stake in any cryptocurrencies and/or activities connected to the crypto sector?
The question is hardly unreasonable given Polis’s vast personal fortune presenting potential conflicts of interest.
If you are covering Polis’s tweet lobbying Congress on crypto regulations please consider the following quote from Compass Colorado.
“Since Polis is now lobbying Congress on crypto tax enforcement, Coloradans deserve to know whether the Governor has any financial exposure to the sector,” said Compass Colorado Executive Director Kyle Kohli.
“In the interest of basic transparency Polis should disclose any crypto holdings or investments he has that could be impacted by the proposed regulatory changes.”