FEC Likely To Allow Bitcoin Donations Up To $100 Worth Per Election Per Recipient Per Contributor
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....
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This year, the FEC announced that political candidates could accept donations in Bitcoin. While the guidelines are welcome, the FEC also capped the amount that could be donated to $100 in Bitcoin or Cryptocurrency per person each election period. This amount is far below the amounts you can donate in fiat. Along with the restriction, many people are not yet up to speed on Bitcoin. This lack of knowledge in the general public also makes Bitcoin lag as a form of donation. As first reported on by The Huffington Post, Blaine Richardson, a House seat candidate running for Maine's 2 District,....
Amidst the backdrop of a chaotic presidential election between Democrat Hillary Clinton and Republican Donald Trump, the US Federal Election Commission is quietly debating whether to reclassify how it treats bitcoin donations. In May 2014, the FEC greenlit bitcoin donations to political campaigns, classifying them as an “in-kind” contribution, responding to a request by a Make Your Laws PAC, a North Carolina organization. At the time, the agency put a cap of $100 per contributor, an amount that corresponds to whatever the current market price is at the time of the donation. By ruling that....
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....
The cryptocurrency industry did not get heavily engaged in this year’s election, either via donations or lobbying.
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....