Feds asked if political campaigners can accept bitcoin donations
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....
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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....
Bitcoin officially infiltrated one of the two major United States political parties this weekend when the Louisiana Republican Party (LAGOP) began accepting bitcoin donations. "The party hasn't publicly launched our bitcoin donation page, but the link went live over the weekend," LAGOP Executive Director Jason Doré told CCN. "We plan to do a public launch later this week." While the Libertarian Party was the first political party to accept bitcoin donations back in April 2013, the Louisiana Republican Party says they are the first major state political party to accept donations via the....
Mathias Sundin, a 36 years old politician, Deputy Mayor of Norrkoping, former Member of Parliament, and entrepreneur from Sweden is running for the Swedish parliament. He is the first political candidate to only accept bitcoins for his political campaign. As he writes on his own website. To promote the spreading of Bitcoin and increase the awareness of new political challenges, I will - as the first political candidate in the world - only accept campaign donations in Bitcoin. He writes that he won't accept Swedish Kroner, nor USD or Euros. He will use the donations that he receives in....
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....
Reports from Russia indicate a minor political party is moving to accept bitcoin donations. The Party of Growth, a center-right party formed in 2009 under the name Just Cause, is reportedly looking to begin accepting donations in the digital currency. The move is notable given the Russian government's complicated and long-controversial stance on digital currencies like bitcoin. News of the donation drive comes in light of reports from Interfax and TASS that cover remarks from Boris Titov, the head of the Party of Growth and an advisor to Russian President Vladimir Putin on business and....