Federal Elections Commission might allow political Bitcoin donations
The FEC published an opinion letter on November 7 in response to a request regarding the its stance on Bitcoin donations. The commission’s response to the request, made by a group called Conservative Action Fund, states that the group may accept Bitcoin donations, but those have to be exchanged for cash before they can be used as payment. Bitcoin, then, would not be treated the same as cash, but it could be used to support political campaigns. The letter states, “The Commission concludes that CAF may accept [B]itcoins as in-kind contributions under valuation, reporting, and disbursement....
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Bitcoin and politics. They may soon go hand-in-hand. Financially speaking, of course. The Federal Election Commission will reportedly consider a request on Wednesday to officially allow political campaigns to accept bitcoin donations in the mid-term elections coming up. The news comes as bitcoin continues its rapid growth and more organizations are embracing the digital currency, which allows for easy transactions less hefty fees charged by traditional card processors. A non-partisan political group by the name of Make Your Laws made the request, which they're hoping will be approved. Make....
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 US Federal Elections Commission (FEC) is proposing a measure that would allow election campaigns to accept bitcoin donations, but they would not be treated the same as cash currently is. In an opinion letter dated 7th November, the FEC responded to a group called Conservative Action Fund (CAF) regarding its request to have an opinion about the acceptance of bitcoin donations. The opinion states that CAF can accept donations in bitcoin, but must sell them for cash in order use them for any sort of payment. "The Commission concludes that CAF may accept bitcoins as in-kind contributions....
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 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....