Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Financial Disclosure Crypto topic
No spam. Unsubscribe anytime.
Committee lays over bill to require crypto holdings disclosure on economic interest forms
Summary
Senate File 2768 would require candidates to disclose virtual-currency holdings valued at $10,000 or more on statements of economic interest; the measure was presented, supported by Clean Elections Minnesota, and laid over for possible omnibus inclusion.
Senate File 2768, which would add virtual currencies valued at $10,000 or more to assets disclosed on statements of economic interest, was presented to the Senate Elections Committee on March 27 and laid over for possible inclusion in the omnibus bill.
Senator Westland described the measure as treating virtual currencies "much like stocks," noting crypto's growing mainstream role and the potential for public-policy decisions to affect asset values. The bill would require listing each virtual currency owned in part or in full by the filer or spouse if its value meets the $10,000 threshold and would require listing dates and the value of each purchase or sale associated with the asset.
Mary Hartnett, executive director of Clean Elections Minnesota, testified in support and said disclosure would help ensure voters have a complete picture of candidates' financial interests. "Virtual currencies, like any other financial asset, can potentially affect an official's decision making," Hartnett said, urging committee members to include the provision on the economic interest statement.
Committee discussion noted the proposal incorporates prior language about reporting sales and values of stocks, and no substantive objections were raised at the hearing. The committee laid the bill over for possible inclusion in the omnibus bill.
