New YorkNew York proposal would bar digital currency campaign contributions
If it becomes law, New York would bar digital currency contributions and require earlier contributions to be returned or sent to the state comptroller.
What it does
Candidates and political committees would be barred from receiving contributions in digital currency, including digital units used to exchange value or stored digitally.
Contributions received before the effective date would have to be returned within 30 days after that date; if return is impracticable, they would go to the state comptroller.
The state Board of Elections could issue rules to carry out the proposal and would have to notify candidates and political committees by the effective date.
Argument forCandidates and political committees might find it simpler to handle contributions if they did not have to accept digital currency.
Argument againstPeople who prefer digital currency might have fewer ways to support candidates or political committees because they could no longer contribute that way.
More detail
The proposal would prohibit digital currency contributions to candidates and political committees. The prohibition covers contributions to candidates and political committees. Digital currency means a digital unit used to exchange value or stored digitally. The proposal would take effect on the 30th day after it becomes law.
Candidates and political committees would have to return certain earlier contributions. This applies to contributions received before the act takes effect. If returning a contribution is impracticable, it must instead be sent to the state comptroller. The return or payment to the comptroller would be due within 30 days after the act takes effect.
The state Board of Elections could issue rules and would have to notify candidates and political committees. The Board would notify all candidates and political committees about the act’s provisions. The Board could issue rules immediately and would have to send notice on or before the effective date.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Sep 2REFERRED TO ELECTION LAWIntroduced
Civil Rights & VotingGovernment & Ethics