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o A United States Savings Bond is an obligation of the federal government but, unlike other government bonds, it is not transferable in that it can only be sold back to the government. o Although many bonds have a table of values on the reverse side of the bond, it is often inaccurate because the interest rate may have changed since the bond was issued. Therefore, the eligibility worker should contact a bank to verify the current value. Also, the Department of Treasury's web site can be used to calculate the value of bonds. Home — TreasuryDirect (www.treasurydirect.gov)

2615.45.05 CRYPTOCURRENCY/VIRTUAL CURRENCY (S)

Cryptocurrency/virtual currency is a non-exempt, non-excludable resource. It is not considered legal tender nor is it considered a household goods or personal effect. It can be used to obtain goods and services, but some virtual currency can be exchanged for real currency. (f11) 2615.45.05.05

DETERMINING VALUE OF CRYPTOCURRENCY/VIRTUAL CURRENCY (S)

For the purposes of determining SNAP eligibility, the value of available resources is determined at the time of interview; therefore, the current market value of cryptocurrency/virtual currency (such as Bitcoin, Litecoin, etc.) should be determined at the time the household is interviewed. The applicant/recipient needs to provide a current account statement showing the number of virtual coins owned.

If the virtual currency is listed on an exchange, the value should be determined by using that exchange. If the virtual currency is not held on an exchange, utilize www.coinbase.com to determine the value. The exchanges website and the exact exchange rate at the time of verification must be documented in case notes. (f12) 2615.50.00 MORTGAGES, LOANS, AND PROMISSORY NOTES

A negotiable mortgage, loan, or promissory note held by an individual is a countable resource. Such items are negotiable when they can be sold (there is no legal barrier to the transfer of ownership). The value counted as a resource is the amount of the outstanding principal balance. Also, any payment received on the principal is a resource. The interest portion of any such payment is unearned income.

If the mortgage, loan, or note is non-negotiable, it is not a resource. In that case total payments received, whether principal or interest, are unearned income.

A mortgage, loan, or promissory note should be reviewed to resolve questions of negotiability. If the worker is unsure, management should be consulted. If necessary, the issue can be sent to Policy via a Policy Answer Line (PAL). Policy will then consult with legal if needed.