FEC to Allow Bitcoin Contributions in Politics
Ruling by the United States Federal Election Commission may change politics. In a unanimous 6-0 decision the FEC has said Bitcoin contributions to political committees will be treated the same as stocks and other items of value given to committees, as reported by Dave Levinthal of the Center for Political Integrity. Tweet. This comes three days after Wisconsin's Alderman Mark Clear, who is running for a seat in the state legislature, returned about $100 worth of Bitcoin that was donated because of its unclarity. Texas Rep. Steve Stockman said he would take Bitcoin donations for his senate....
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The 6-member panel voted unanimously to allow the contributions, a move that could open the floodgates for donors to make political contributions with the digital currency in the upcoming midterm elections. The decision means that political groups or candidates can accept Bitcoin if they abide by the same guidelines that the political group Make Your Laws set forth when it asked for the commission’s approval. Bitcoin political contributions would be clearly identified and limited. Proponents say it’s a sign of increased acceptance of the upstart currency, as more businesses and individuals....
Last November, the Federal Elections Commission (FEC) voted 3-3 over a proposal allowing political campaigns to accept bitcoin donations. While, in effect, the FEC didn't say no to bitcoin, it also left some important questions unanswered. The proposal was brought to the FEC by lawyers of the Conservative Action Fund (CAF), which, as a political action committee, wanted to pressure the FEC into looking at the merits of bitcoin as a tool for fundraising. During the hearing, FEC commissioners did come to some conclusions regarding bitcoin's role in political contributions, summarized in an....
One thing to be aware of in our world is, sadly, politics. Yes, Politics. It's 'smart-people' term for 'yelling about government.' Take it from me, Calvin Tran. I was oddly fascinated with politics in 3rd grade with the election of George Bush VS John Kerry. I was the typical brainless child who stood by his parents's opinions and with no real understanding of politics. This came back in 2011 when I discovered Ron Paul, and (yes, I can see your eyes rolling) I became enthused with the Libertarian ideals of free market principles and social freedoms. Since then, I've been enthralled by....
The US Federal Election Commission (FEC) has delayed a formal decision on whether to allow bitcoin-denominated campaign contributions, widely expected to be announced today. However, a senior official suggested that limited contributions may be acceptable in the future. As reported by The Hill, the commission was considering a petition to allow bitcoin campaign contributions in amounts up to $100. The petition was submitted by Make Your Laws (MYL) PAC. During the meeting, Commission Vice Chairwoman Anne Ravel reportedly gave voice to potential issues regarding the anonymity associated with....
Part three of the “Bitcoin Is Not Democratic” series explores the building blocks necessary to construct a civilization that transcends politics.