OAR 461-145-0583
Virtual Currency or Cryptocurrency

(1)

As used in this rule:

(a)

“Cryptocurrency” is a type of currency available in virtual or digital form that functions as a medium of exchange with no central banking or regulating authority.

(b)

“Day trading’ is the buying and selling of cryptocurrency within the virtual market. The cryptocurrency market continuously runs because it is a worldwide market.

(c)

“Mining” is a way to receive cryptocurrency (see subsection (a) of this section) through solving a series of mathematical problems. “Mining” requires a computer, an external hardware setup, and a special computer software program. To receive cryptocurrency through “mining”, multiple people worldwide are attempting to solve a series of complicated mathematical problems via the “mining” software, and each receipt of cryptocurrency could require millions or billions of guesses at mathematical problems. The person to solve the final mathematical problem is the one to receive the cryptocurrency.

(d)

“Wallet” is a way to store records of cryptocurrency transactions. Each cryptocurrency is assigned a public address, and when stored in a “wallet” the cryptocurrency is assigned a private key for protection. The cryptocurrency public address and private key are stored on a computer, mobile device, internal or external computer hardware, or a piece of paper and protected by private keys.

(2)

In all programs, cryptocurrency is treated as follows:

(a)

Cryptocurrency received as a payment from an employer is considered earned income (see OAR 461-145-0130 (Earned Income; Treatment)).

(b)

Cryptocurrency received in exchange for services or products provided may be either considered income from self-employment if the individual meets the self-employed criteria in OAR 461-145-0910 (Self-Employment; General; Not OSIP, OSIPM, or QMB)(2) or OAR 461-145-0915 (Self-Employment; General; OSIP, OSIPM, QMB), or considered earned income.

(c)

Cryptocurrency received as a gift is treated in the same manner as a gift in the form of money (see OAR 461-145-0210 (Gifts and Winnings)).

(d)

Cryptocurrency received through mining (see section (1) of this rule) is considered unearned income.

(e)

Cryptocurrency received through an online casino is considered winnings (see OAR 461-145-0210 (Gifts and Winnings)).

(f)

In all programs except the QMB-BAS, QMB-SMB, and QMB-SMF programs, the day trading (see section (1) of this rule) value of cryptocurrency is counted as a resource.
(A) After the month of receipt, cryptocurrency stored in a wallet (see section (1) of this rule) is counted as a resource.
(B) Cryptocurrency stored in a wallet can be converted to liquid assets and follows the availability of resources rule (see OAR 461-140-0020 (Availability of Resources)).

Source: Rule 461-145-0583 — Virtual Currency or Cryptocurrency, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=461-145-0583.

461‑145‑0000
Achieving a Better Life Experience (ABLE) Act 461‑145‑0001
Adoption Assistance 461‑145‑0005
Agent Orange Disability Benefits 461‑145‑0008
Alaska Permanent Fund Dividend 461‑145‑0010
Animals 461‑145‑0020
Annuities 461‑145‑0022
Annuities 461‑145‑0025
Approved Accounts 461‑145‑0030
Bank Account 461‑145‑0035
Black Lung Benefits 461‑145‑0040
Burial Arrangements and Burial Fund 461‑145‑0050
Burial Space and Merchandise 461‑145‑0060
Cash 461‑145‑0080
Child Support and Cash Medical Support 461‑145‑0086
Contributions 461‑145‑0087
Coronavirus Aid, Relief, and Economic Security (CARES) Act 461‑145‑0088
Corporations and Business Entities 461‑145‑0089
Corporations and Other Business Entities 461‑145‑0090
Disability Benefit 461‑145‑0100
Disaster Relief 461‑145‑0105
Disqualifying Income 461‑145‑0108
Dividends, Interest and Royalties 461‑145‑0110
Domestic Volunteer Services Act (VISTA, RSVP) and Small Business Act (SCORE, ACE) 461‑145‑0120
Earned Income 461‑145‑0130
Earned Income 461‑145‑0140
Earned Income Tax Credit (EITC) 461‑145‑0143
Economic Recovery Payment 461‑145‑0145
Educational Account 461‑145‑0150
Educational Income 461‑145‑0170
Energy Assistance Payments 461‑145‑0175
Family Abuse Prevention Act (FAPA) Payments 461‑145‑0184
Filipino Veterans Equity Compensation Fund 461‑145‑0185
Floating Homes and Houseboats 461‑145‑0190
Food Programs Other Than the SNAP program 461‑145‑0200
Foster Care Payments and Guardianship Assistance Benefits 461‑145‑0210
Gifts and Winnings 461‑145‑0220
Home 461‑145‑0230
Housing and Urban Development 461‑145‑0240
Income-Producing Sales Contract 461‑145‑0250
Income-Producing Property 461‑145‑0252
Income-Producing Property 461‑145‑0255
Youth Transitions Program Subsidies 461‑145‑0259
Indian (Native American) Benefits 461‑145‑0260
Indian (Native American) Benefits 461‑145‑0261
Individual Development Account (IDA) 461‑145‑0270
Inheritance 461‑145‑0280
In-Kind Income 461‑145‑0285
Japanese-American Restitution Payments 461‑145‑0290
Job Corps 461‑145‑0300
Workforce Investment Act 461‑145‑0310
Life Estate 461‑145‑0320
Life Insurance 461‑145‑0330
Loans and Interest on Loans 461‑145‑0340
Lodger Income 461‑145‑0343
Manufactured and Mobile Homes 461‑145‑0345
Military Income 461‑145‑0348
Mineral Rights 461‑145‑0360
Motor Vehicle 461‑145‑0365
National and Community Services Trust Act (NCSTA), including AmeriCorps (other than AmeriCorps VISTA) 461‑145‑0370
Older Americans Act 461‑145‑0380
Pension and Retirement Plans 461‑145‑0390
Personal Belongings 461‑145‑0400
Personal Injury Settlement 461‑145‑0405
Plan for Self-support 461‑145‑0410
Program Benefits 461‑145‑0415
Radiation Exposure Compensation Act 461‑145‑0417
Railroad Retirement Payments 461‑145‑0420
Real Property 461‑145‑0430
Real Property Excluded under an Interim Assistance Agreement 461‑145‑0433
Recreational Vehicles 461‑145‑0435
Refunds 461‑145‑0440
Reimbursement 461‑145‑0455
Resettlement and Placement (R&P) Grants 461‑145‑0460
Sale of a Resource 461‑145‑0470
Shelter-in-Kind Income 461‑145‑0490
Social Security Benefits 461‑145‑0500
Social Secuirty Death Benefit 461‑145‑0505
Spousal Support 461‑145‑0510
SSI 461‑145‑0520
Stocks, Bonds and Other Securities 461‑145‑0525
Strikers’ Benefits 461‑145‑0530
Tax Refund 461‑145‑0540
Trusts 461‑145‑0550
Unemployment Compensation Benefit 461‑145‑0560
Uniform Relocation Act 461‑145‑0570
USDA Meal Reimbursement 461‑145‑0580
Veterans’ Benefits 461‑145‑0582
Victims’ Assistance 461‑145‑0583
Virtual Currency or Cryptocurrency 461‑145‑0585
Vocational Rehabilitation Payment 461‑145‑0590
Workers Compensation 461‑145‑0600
Work-Related Capital Assets, Equipment, and Inventory 461‑145‑0810
Deemed Assets 461‑145‑0820
Deemed Assets 461‑145‑0830
When to Deem the Assets of a Sponsor of a Noncitizen and How Income is Deemed 461‑145‑0860
Deemed Assets, Parent of Minor Parent 461‑145‑0910
Self-Employment 461‑145‑0915
Self-Employment 461‑145‑0920
Self-Employment 461‑145‑0930
Self-Employment 461‑145‑0931
Additional Exclusions for Farming Costs
Last Updated

Jun. 8, 2021

Rule 461-145-0583’s source at or​.us