Bill > SB310

This bill amends existing election law in Kansas to regulate campaign contributions made using cryptocurrency, which is defined as a convertible virtual currency for online transactions that functions as a substitute for currency or has a value equivalent to currency. Specifically, it establishes that no person can contribute more than $200 in cryptocurrency to a candidate or their campaign committee for any single primary or general election, and candidates and their committees cannot accept more than this amount from any single person. To ensure transparency and compliance, all cryptocurrency contributions must be processed through a U.S.-based payment processor registered with the Financial Crimes Enforcement Network (FinCEN) that verifies the contributor's identity using "know-your-customer" (KYC) protocols, collecting and transmitting the contributor's name, address, occupation, and employer within 24 hours. These contributions are to be reported as monetary contributions, valued at their fair market price at the time the processor receives them, and must be converted to U.S. dollars and deposited into the campaign account within three business days, with any processor fees reported as expenditures; importantly, campaigns cannot hold cryptocurrency as an asset or make expenditures using it.

Government Affairs

https://kslegislature.gov/li/b2025_26/measures/sb310/