California AB1029 expands financial disclosure requirements for public officials to include digital financial assets.

California AB1029 amends the Political Reform Act of 1974 to expand the definition of "investment" to include digital financial assets. Public officials must disclose these assets if they hold a 10% interest or more. The act requires agencies to update their conflict of interest codes to include digital financial assets. Designated employees must file statements disclosing their digital financial assets, business positions, interests in real property, and income. The act specifies that an asset is an investment only if its fair market value equals or exceeds $2,000.

California AB1029 expands financial disclosure requirements for public officials to include digital financial assets.

California AB1029 amends the Political Reform Act of 1974 to expand the definition of "investment" to include digital financial assets. Public officials must disclose these assets if they hold a 10% interest or more. The act requires agencies to update their conflict of interest codes to include digital financial assets. Designated employees must file statements disclosing their digital financial assets, business positions, interests in real property, and income. The act specifies that an asset is an investment only if its fair market value equals or exceeds $2,000.