A nonmonetary contribution is received on the earlier of the following:
• The date funds were expended by the contributor for the goods or services; • The date the candidate, committee, or an agent of the committee obtained possession or control of the goods or services; or • The date the candidate or committee received the benefit of the expenditure. A nonmonetary contribution of employee services is made by the contributor and received by the candidate or committee on the payroll date of the employee. See the discussion later in this chapter for information about how to value a contribution of employee services. A committee may solicit a contribution of cryptocurrency as a nonmonetary contribution, subject to specific requirements. Contributions received in cryptocurrency are subject to any applicable limits and may not be accepted from foreign principals, lobbyists, or anonymous sources. Committees cannot receive cryptocurrency contributions directly. However, a committee may receive cryptocurrency contributions through a payment processor selected to act as a vendor on behalf of the committee. Any cryptocurrency contribution must be made and received through a U.S. based cryptocurrency payment processor registered with the U.S. Department of Treasury, Financial Crimes Enforcement Network, which utilizes know your customer (KYC) protocols to verify the identity of the contributor for all contributions. A committee that chooses to solicit contributions in cryptocurrency must ensure that the payment processor it selects to process these contributions does all of the following:
Fair Political Practices Commission advice@fppc.ca.gov
Chapter 4.3
Campaign Manual 2 August 2023 Page 191
Made with FlippingBook interactive PDF creator