Officials in the executive branch of the federal government must report their holdings in virtual currency as part of the public financial disclosure process, according to an internal government ethics watchdog.

In a legal advisory released Monday, the U.S. Office of Government Ethics clarified that virtual currency qualifies as “property held … for investment or the production of income” under the Ethics in Government Act, and therefore is subject to the public or confidential disclosures required under the law. Going forward, the OGE is requiring executive branch officials and nominees to identify the name of the virtual currency they hold and any exchange or platform used to hold it in their annual disclosures.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]