How to report cryptocurrency donations

Bitcoin and other cryptocurrency should be treated as the equivalent of cash and limited to $100 (RCW 42.17A.475). The cryptocurrency should be converted to legal tender, deposited in the campaign depository within five business days of receipt (RCW 42.17A.220), and timely reported.

If cryptocurrency is paid directly to a vendor for goods or services, it should be disclosed as an in-kind contribution using the fair market value of the cryptocurrency at the time the payment is made. The in-kind contribution must be timely and accurately reported by the recipient, including the name and address of the vendor.