US Federal Election Commission Votes Unanimously To Allow Bitcoin Donations For Political Action Committees
FEC Votes 6-0 To Allow Bitcoin Donations. 5/8/14, at an open meeting, the United States Federal Election Commission (FEC) has voted 6-0 to pass the Advisory Opinion Request 2014-02 Draft C which will expressly allow Bitcoin donations to Make Your Laws. This draft, which was today unanimously accepted by the FEC, represents the FEC's bipartisan compromise on the issue of allowing Bitcoin donations. The FEC comes to this watershed decision thanks to an inquiry from Make Your Laws, a hybrid Super Political Action Committee (PAC) that has successfully brought about change from the US....
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The US Federal Election Commission (FEC) has determined that political campaigns and political action committees (PACs) may accept bitcoin as a form of in-kind donation under current federal election laws. The FEC previously delayed a decision on a request for clarification from Make Your Laws (MYL) - an organisation that facilitates political contributions - which sought guidance on how it could go about accepting and using bitcoin donations, as well as general rules for handling digital currencies. In its draft report, the FEC tracks closely with comments made previously by the....
FEC Allows Bitcoin Donations. This morning, the Federal Election Commission met in an open meeting to discuss Advisory Opinion Request 2014-02 (AO-2014-02) which was originally presented by Sai of Make Your Laws Political Action Committee (PAC) on 2/10/14. Make Your Laws is a non-partisan hybrid Super PAC formed in 2012 that focuses on democratic reform. Today's hearing saw discussion from commissioners on the consequences of any FEC decision, as well as the specifics to the decision itself. Make Your Laws' intent with their Advisory Opinion request is to have the FEC create guidelines for....
In the same breath, government officials list bitcoin as a potential threat to national security, but if you wish to fund political committees, they will accept cash, credit, check, and bitcoin, the digital currency they can't control. On Thursday, May 8th, the Federal Election Commission (FEC) voted in favor of accepting bitcoin as payment in support of political committees. Unlike like last fall, when officials hesitated to allow bitcoin donations, this year they quickly passed the measure 6-0. The vote also allows political action committee (PAC) members to purchase and sell bitcoins,....
The Federal Election Commission (FEC) in the US has been asked to decide whether bitcoin donations can be used in political campaigns. Lawyers for Conservative Action Fund PAC (CAF) wrote to the commission on whether political candidates are allowed to accept donations in bitcoins as well as dollars. The request, which was written by Dan Backer of campaign finance and political law firm DB Capitol Strategies, also asks the commission to clarify whether CAF may then sell or directly spend any bitcoin donations it receives. "As increasing numbers of individuals trade in bitcoin, political....
A carefully selected group of US Congress members will soon receive bitcoin donations in the mail. For some, it will likely be the first time they come into direct contact with digital currency. Led by a Washington, DC-based political action committee (PAC) focused on bitcoin policy called BitPAC, the initiative will distribute $250 worth of bitcoin in paper wallets to eight members of Congress, including Chuck Schumer (D-NY), Rand Paul (R-KY) and Paul Ryan (R-WI). Additional politicians who will receive the donations include Ron Wyden (D-OR). Ted Cruz (R-TX). Jeb Hensarling (R-TX). Maxine....