FEC proposes rule allowing political campaigns to receive bitcoin donations
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....
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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....
The Federal Election Commission (FEC) will be ruling on contributions to US political campaigns on April 23. Since no law prevents using crypto-currency in political campaigns, people like Texas Governor Candidate Greg Abbott and the Libertarian party have already accepted donations via Bitcoin. Two draft advisory opinions from PAC Make Your Laws were posted on the FEC’s website available for public comment before today’s meeting. The first draft, posted April 16, more or less would allow political campaigns to accept Bitcoin not as cash donations but rather in-kind donations, use the....
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....
There's been talk in the media of the Federal Election Commission potentially allowing Bitcoin donations to political campaigns. Not terribly long ago (earlier this month, in fact), we even reported on the topic. It looks like the decision to give the proposal the green light has been delayed, according to a Reddit submission on Thursday. The vote reportedly concluded with 3 in favor of allowing Bitcoin contributions, and of course, 3 not in favor. The commission at this point is apparently uncomfortable with their present understanding of Bitcoin, but will likely vote in favor and pass....
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....