New York State Board of Elections Approves Cryptocurrency Contributions
By: Joseph T. Burns
At a board meeting held on February 12, 2026, the commissioners of the New York State Board of Elections (NYSBOE) approved an advisory opinion allowing political committees to accept cryptocurrency contributions.
In its advisory opinion, the NYSBOE discusses how cryptocurrency contributions to federal committees – including committees supporting candidates for federal office – have been permitted since 2014. It was in 2014, the NYSBOE advisory opinion states, that the Federal Election Commission approved an advisory opinion allowing contributions to be made in cryptocurrency. Under the FEC’s interpretation, these cryptocurrency contributions are compared to contributions of stocks, bonds, and art objects and should be reported as “in-kind” contributions.
The NYSBOE opinion goes on to state that other states have considered the issue of cryptocurrency contributions. According to the NYSBOE opinion, most of the states allowing cryptocurrency contributions have not imposed a limit on cryptocurrency contributions beyond traditional contribution limits. The NYSBOE opinion also states that only three states ban cryptocurrency contributions.
According to the NYSBOE opinion, cryptocurrency contributions to political committees fall within the definition of “contribution” found in Election Law Section 14-100. Political committees, including party committees and constituted committees, may, therefore, accept contributions in the form of cryptocurrency. Like the FEC, the NYSBOE also determined that these cryptocurrency contributions should be treated as and reported as in-kind contributions.
Finally, the NYSBOE advisory opinion leaves open the possibility that the NYSBOE will adopt and implement new and additional reporting requirements for in-kind contributions made in cryptocurrency.
Should you or your committee need guidance on the permissibility of accepting or properly reporting cryptocurrency contributions, feel free to reach out to a Holtzman Vogel attorney with experience in this area of law.
