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Can I collect cryptocurrency information from participants in California? What are the requirements?

Collecting Cryptocurrency Information from Participants in California

California has specific laws regarding the collection and sharing of personal information, including cryptocurrency information. The requirements for collecting cryptocurrency information from participants in California depend on the context of the collection and the type of information being collected.

Health Information Exchange Privacy and Security Demonstration Projects

The California Legislature has authorized the Office of Health Information Integrity within the California Health and Human Services Agency to establish and administer demonstration projects funded by federal grants and other sources. These projects are intended to identify barriers to implementing health information exchanges, test potential security and privacy policies for the safe and secure exchange of health information, and identify and address differences between state and federal laws regarding privacy of health information [1.2].

Information Sharing with Financial Institutions

A person licensed to engage in commercial cannabis activity pursuant to California law may request in writing that the department, a local licensing authority, a state or local agency, or a joint powers authority share the person’s application, license, and other regulatory and financial information with a financial institution of the person’s designation. The person must include in that written request a waiver authorizing the transfer of that information and waiving any confidentiality or privilege that applies to that information. Upon receipt of a written request and waiver, the department, a local licensing authority, a state or local agency, or a joint powers authority may share application, licensee, and other regulatory and financial information with the financial institution designated by the licensee in that request for the purpose of facilitating the provision of financial services for that licensee [2.1].

Requirements

The protection from disclosure of information or the disclosure of information submitted to CalRecycle by a collector, a recycler, or a manufacturer of covered electronic devices, pursuant to this Chapter, shall be governed by the standards adopted by CalRecycle found at Sections 17041 through 17046, of this Title [5.1].

Based on the available information, it is unclear what type of cryptocurrency information is being collected and for what purpose. Therefore, it is recommended that you consult with a legal professional to determine the specific requirements for collecting cryptocurrency information from participants in California.

Source(s):
Jurisdiction

California