Minneslate Logo

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 bill aims to enhance transparency in campaign finance by requiring the disclosure of virtual currency holdings and transactions in the Statement of Economic Interest for public officials.

Main Provisions

  • Disclosure Requirement: Individuals filing a Statement of Economic Interest must report any virtual currency holdings with a value exceeding $10,000. They must also disclose the dates and values of any purchases or sales of virtual currency during the reporting period, regardless of the transaction amount.
  • Current Disclosure Items: The bill maintains existing requirements to list personal information, business associations, real estate interests, investments related to horse racing, business income categories, securities, and government contracts.
  • Technical Amendments: Renumbers the list of disclosure items and makes necessary adjustments to accommodate the inclusion of virtual currency.

Significant Changes to Existing Law

  • Addition of Virtual Currency: The bill adds virtual currency as a new category that must be disclosed if its value exceeds $10,000, marking a significant update to existing financial disclosure regulations that did not explicitly require this information.

Relevant Terms

  • Virtual currency
  • Economic interest
  • Campaign finance
  • Disclosure
  • Public officials

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 19, 2025SenateFloorActionIntroduction and first reading
March 19, 2025SenateFloorActionReferred toElections

Citations

 
[
  {
    "analysis": {
      "added": [
        "A requirement to disclose virtual currency holdings and transactions."
      ],
      "removed": [],
      "summary": "This bill amends section 10A.09, subdivision 5, of the Minnesota Statutes, which relates to the requirements for statements of economic interest.",
      "modified": [
        "Update to the structure of existing clauses, adding virtual currency as a disclosure requirement."
      ]
    },
    "citation": "10A.09"
  }
]

Sponsors