Rules

PROPOSED RULES

At its February 2022, meeting, the Texas Ethics Commission voted to propose the following new rule: §22.37. The text of the proposed new rule is located below.

§22.37. Cryptocurrency Contributions.
Text of Proposed Rule

The proposed new language is indicated by underlined text.

Chapter 22. RESTRICTIONS ON CONTRIBUTIONS AND EXPENDITURES

§22.37. Virtual Currency Contributions

(a) Virtual currency contributions are considered “in-kind” contributions.

(b) A candidate, officeholder, or political committee must report a gain from the sale of virtual currency contributions on the appropriate schedule if the gain exceeds the reporting threshold set by Section 254.031(9) of the Election Code and amended by section 18.31 of this title (relating to Adjustments to Reporting Thresholds).

(c) The value of a virtual currency contribution shall be reported as the fair market value of the virtual currency upon receipt.