Crypto Holders Banned from Writing Rules on US Digital Assets

US officials holding cryptocurrencies and stablecoins directly as personal investments will generally be barred from advising President Joe Biden on how to oversee the digital currency, the government’s ethics chief said.

The directive, issued Tuesday by the US Office of Government Ethics, disqualifies federal employees from working on any regulation that could influence the value of their digital currencies. Mutual-fund holders with less than $50,000 invested in the sector will be allowed to help write the rules, so long as the fund’s primary goal isn’t to invest in cryptocurrency, the advisory said.

The statement comes as lawmakers and federal ...