Bitcoin a “Go” in Political Donations, Says FEC
In late April, the Federal Election Committee (FEC) began its rulings on how to regulate contributions to US political campaigns, if at all. The FEC was given two draft opinions by political action committee Make Your Laws (MYL). The verdict? Bitcoin is in. The FEC ruled 6-0 allowing Bitcoin donations to campaigns, although “MYL must sell the bitcoins it purchases and deposit the proceeds into its campaign depository before spending those funds,” according to an advisory memo to MYL. Donations cannot exceed $100. The value of the bitcoin donation is explicitly addressed throughout the....
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How do you get lawmakers to understand the concept of bitcoin and digital currency in the most effective way possible? It's a question that's been answered by BitPay (a bitcoin digital payments processor) and CoinVox (a bitcoin services firm for political organizations). The two companies have teamed together to offer an "all-in-one" solution for political candidates, political action committees and political organizations to easily accept bitcoin donations. The integration will effectively allow political groups to securely accept contributions/donations while remaining compliant with....
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....
The government of Ireland is preparing to ban political parties from accepting campaign donations in cryptocurrency. The move aims to block the perceived threat of Russian interference in the European nation’s elections against the backdrop of a clash between the West and Moscow over the war in Ukraine.
Ireland to Limit Foreign Political Support for Its Parties, Including Crypto Donations
The executive power in Dublin is drafting new political integrity rules to limit foreign political donations amid fears that Russia might try to influence Ireland’s electoral....
Following the unanimous decision yesterday by the Federal Election Commission (FEC) to approve the acceptance of bitcoin donations for political campaigns, Democrat Jared Polis has already started accepting bitcoin for his re-election campaign. The campaign committee, Jared Polis for Congress, announced yesterday that the Colorado Representative was one of the first politicians to accept digital currencies. Donations can be made on Polis' website, which was launched shortly after the FEC vote yesterday. In a written statement, Polis said: "I am thrilled that the FEC has chosen to take a....
A political group supporting US Vice President Joe Biden's bid for presidency has announced that they are accepting bitcoin donations. The group called "Draft Biden 2016" will make use of BitPay as its payments processor, which allows donors to make bitcoin donations amounting to as much as $100 per year. "This is in keeping with Vice President Biden's strong support of technology and innovation throughout his career," Draft Biden 2016 director Joseph Schweitzer told The Hill. Bitcoin Donations for Political Causes. Several political campaigns have been looking to solicit support through....