National Blockchain Committee

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Revision as of 23:37, 6 January 2019 by Bonnie (talk | contribs) (=== State Knowledge Base === Find information state cryptocurrency donation rules, blockchain regulations and state based blockchain businesses. * For 2018 crypto legislation as of July 2018, you can check out: http://www.ncsl.org/research/financial-...)
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The Blockchain Committee is a committee created by the LNC to empower candidates and activists with the knowledge of blockchain to be better advocates for free markets in technology and money.

2018-2020 Committee Members

State Knowledge Base

Find information state cryptocurrency donation rules, blockchain regulations and state based blockchain businesses.

Other Topics

Blockchain Voting
Cryptocurrency
Federal Blockchain Laws/Regulations

State Candidate Campaign Donations? Crypto legality
Alabama - AL
Alaska - AK
Arizona - AZ
Arkansas - AR
California - CA No See: https://finance.yahoo.com/news/california-watchdog-bans-bitcoin-donations-093606846.html
Colorado - CO
Yes. "regulation holds donations made in digital money to the same limit as regular cash donations. The USD value of crypto received is to be determined by the market value at the time of contribution, and campaigns are obliged to report all subsequent gains and losses as well." [1][2]
Connecticut - CT
Delaware - DE
District of Columbia - DC
Yes. "Title 3 (Elections and Ethics) of the District of Columbia Municipal Regulations[...]mentions ‘Bitcoin contributions’ and specifies the order in which they have to be liquidated and reported as in-kind. The text implies that the cap is no different for crypto donations than any other kind." [3][4]
Florida - FL
Georgia - GA
Hawaii - HI
Idaho - ID
Illinois - IL
Indiana - IN
Iowa - IA
Kansas - KS
"Kansas Governmental Ethics Commission opined that digital currency was ‘too secretive’ to be used in campaign finance. It is unclear, however, if the scope of the ruling encompasses cryptocurrencies other than bitcoin." [5][6]
Kentucky - KY
Louisiana - LA
Poor crypto laws -- see the Randall Lord case,
Maine - ME
Maryland - MD
Massachusetts - MA
Yes. "‘contributions in Bitcoins’ are permitted and subject to the same limits and disclosure requirements as fiat contributions, with a five-day period for liquidation. It is not allowed to directly use crypto for campaign expenditures, since state law holds it that any campaign purchase exceeding $50 should by paid for with a check from an official committee account." [7] [8]
Michigan - MI No See: https://www.ccn.com/no-coins-for-you-michigan-bans-crypto-donations-for-political-campaigns/
Minnesota - MN
Mississippi - MS
Missouri - MO
Montana - MT
Yes. "Receipt of crypto contributions is permitted, but expenditures can only be made out of a ‘primary campaign depository,’ hence there can be no such thing as the candidate’s official crypto wallet. [...] committees should liquidate the contribution within 24 hours from receipt." [9][10]
Nebraska - NE
Nevada - NV
New Hampshire - NH
New Jersey - NJ
New Mexico - NM
New York - NY
North Carolina - NC No See: https://dcebrief.com/nc-election-board-no-crypto-donations-for-state-candidates/
North Dakota - ND
Ohio - OH
Oklahoma - OK
Oregon - OR
Yes. Adopted in August 2018, "mirror the FEC’s approach of allowing contributions but not expenditures to be made in cryptocurrencies." [11][12]
Pennsylvania - PA
Rhode Island - RI
South Carolina - SC
No. [13]
South Dakota - SD
Tennessee - TN
Yes. "Tennessee law treats digital currency contributions the same as cash contributions, mandating that crypto is liquidated before it can be spent for campaign needs. The monetary value of crypto donations is determined by the market value at the time of receipt." [14] [15]
Texas - TX
Utah - UT
Vermont - VT
Virginia - VA
Washington - WA
West Virginia - WV
Wisconsin - WI
Undecided. "As of late September [2018[, the Wisconsin State Assembly hasn’t yet addressed the issue." [16][17]
Wyoming - WY
  1. https://cointelegraph.com/news/from-california-to-colorado-how-us-regulates-the-political-donations-in-crypto
  2. https://content.govdelivery.com/attachments/COSOS/2018/05/16/file_attachments/1008159/20180516_CPF_WorkingDraftRules.pdf
  3. https://cointelegraph.com/news/from-california-to-colorado-how-us-regulates-the-political-donations-in-crypto
  4. https://ocf.dc.gov/sites/default/files/dc/sites/ocf/publication/attachments/Chapter30.doc
  5. https://cointelegraph.com/news/from-california-to-colorado-how-us-regulates-the-political-donations-in-crypto
  6. https://news.bitcoin.com/kansas-governmental-ethics-commission-forbids-bitcoin-donations/
  7. https://cointelegraph.com/news/from-california-to-colorado-how-us-regulates-the-political-donations-in-crypto
  8. http://files.ocpf.us/pdf/legaldocs/AO-14-01.pdf
  9. https://cointelegraph.com/news/from-california-to-colorado-how-us-regulates-the-political-donations-in-crypto
  10. https://politicalpractices.mt.gov/Portals/144/5campaignfinance/EricFultonBitcoinUseOpinion.pdf
  11. https://cointelegraph.com/news/from-california-to-colorado-how-us-regulates-the-political-donations-in-crypto
  12. https://www.oregon.gov/newsroom/Pages/NewsDetail.aspx?newsid=2784
  13. https://cointelegraph.com/news/bitcoin-for-america-cryptocurrencies-in-campaign-finance
  14. https://cointelegraph.com/news/from-california-to-colorado-how-us-regulates-the-political-donations-in-crypto
  15. http://www.fppc.ca.gov/content/dam/fppc/NS-Documents/AgendaDocuments/Comment%20Letters/2018/September/42%20Graham.pdf
  16. https://cointelegraph.com/news/from-california-to-colorado-how-us-regulates-the-political-donations-in-crypto
  17. https://cointelegraph.com/news/bitcoin-for-america-cryptocurrencies-in-campaign-finance