United States Federal Employees To Disclose Crypto Holdings
The US Office of Government Ethics now requires federal employees to make known their crypto investments. This move is sure to affect about 2 million federal executive branch employees. Although this new regulation demands the full disclosure of crypto investments, it does not, however, recognize cryptocurrencies as legal tender. Filers report their holdings in virtual currency at the end of the reporting period if the value of the virtual currency holding exceeds $1,000 or during the reporting period if the income generated by the virtual currency holding exceeds $200. The policy requires Filers to give the name of the virtual currency, or the exchange/platform where the currency is held if it is held through an exchange or platform.