February 18, 2022 •
Iowa Ethics and Campaign Disclosure Board Classifies Cryptocurrency as In-Kind Contribution
The Iowa Ethics and Campaign Disclosure Board voted unanimously to issue an advisory opinion classifying political donations in cryptocurrencies like Bitcoin and Ethereum as in-kind contributions.
Candidates may accept payments but must report the cash value and the donor’s name, and they must report when a cryptocurrency is sold and to whom.
The opinion notes campaigns cannot spend cryptocurrency directly because all campaign expenditures must come from money deposited into an Iowa financial institution.
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