X Stocks and Digital Assets

Revised 05/21/2024

Policy

The current market value (CMV) of stock or digital assests is counted as a resource. The CMV is the closing price on the day for which it is evaluated. The “par value” or “stated value” that may be shown on some stock certificates is not the CMV.

NOTE     The customer may request an exclusion for stock that is not publicly traded based on good faith effort to sell (MA703E). Stock that is not publicly traded is not considered a liquid resource because it usually cannot be converted to cash within 20 working days. 

 

Definitions

Term	Definition
Stock	Shares of stock represent an ownership interest in a business corporation.
Digital Assests	A digital or virtual currency that has an equivalent value in real currency that can be purchased for, or exchanged into, U.S. dollars. Examples: Bitcoin, Ethereum, Tether, stable coins, and non-fungible tokens (NFTS).

 

Proof

When needed proof is on a website, a screenshot or copy of the proof must be in DocuWare. See MA701 General Information about Resources proof section for case notes that must be entered when the visually verified proof cannot be added to HEAplus or DocuWare.

Ownership and shares:

Proof of stock ownership and number of shares includes:

• The stock certificate;

• Current account statement from a brokerage or management company that is managing the customer’s investments; or

• Current statement from the firm that issued, is holding the stock, or is managing the stock portfolio.

 

Proof of digital assets ownership includes:

• Account statements from the financial institution managing the investment; or

• Purchase or sales receipts for the transactions.

 

Value:

The closing price of stock for any given day is verified as follows:

If the stock or currency is…	Then the value is verified by...
Publicly traded	An account statement from the firm that holds the stock or currency; A newspaper listing; or Internet site for historical quotes by ticker symbol: http://finance.yahoo.com/.
Not publicly traded	A written statement from the corporation, which must include ALL of the following: An estimate of the stock or currency's value on the date proof is requested; The basis on which the estimate was made (most recent sales, most recent offer from outsiders, CMV of assets less debt, cessation of activity and sale of assets, etc.); and The name, phone number, address and title of the person providing the information.

See Stocks and Digital Assets Examples.

 

Legal Authority

Program	Legal Authority
ALTCS	20 CFR 416.1201(a) and (b)