SF2768 (Legislative Session 94 (2025-2026))
Disclosure of virtual currency on the statement of economic interest requirement provision
AI Generated Summary
Purpose of the Bill
The purpose of this bill is to amend Minnesota's campaign finance law to require public officials to disclose any holdings in virtual currency when filing their statement of economic interest.
Main Provisions
Disclosure Requirements: The bill mandates that individuals filing a statement of economic interest must disclose any virtual currency holdings valued over $10,000. This includes both partial and full ownership by the individual or their spouse.
Detailed Reporting: Filers must also provide information on each purchase or sale of these virtual currencies, including the date and value of the transactions, regardless of the transaction value.
Other Required Disclosures: The statement must include details on the individual's:
- Name, address, and occupation.
- Business associations and real estate interests.
- Investments in horse racing, business activities generating significant income, and securities valued over $10,000.
- Contracts, licenses, leases, or franchises with government agencies.
Significant Changes to Existing Law
Inclusion of Virtual Currency: This legislation adds a new requirement for the disclosure of virtual currency holdings, which was not previously specified in Minnesota law. Virtual currencies were not listed under the original disclosure requirements, signifying a considerable update.
Reordering of Disclosure Items: A new clause is introduced for virtual currency, which shifts the ordering of the existing clauses for other relevant disclosures.
Relevant Terms
virtual currency, economic interest, disclosure, public official, campaign finance, statement of economic interest, crypto holdings, bitcoin, digital assets
Bill text versions
- Introduction PDF file
Past committee meetings
- Elections on: March 27, 2025 15:00
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 20, 2025 | Senate | Floor | Action | Introduction and first reading | |
| March 20, 2025 | Senate | Floor | Action | Referred to | Elections |
Citations
[
{
"analysis": {
"added": [
"Introduces requirements for disclosure of virtual currency holdings and transactions."
],
"removed": [
""
],
"summary": "This bill amends the statement of economic interest requirements under section 10A.09, subdivision 5.",
"modified": [
"Adjustments made to the listing requirements for securities and virtual currencies."
]
},
"citation": "10A.09",
"subdivision": "subdivision 5"
}
]