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The newest thing Bitcoin can buy: Political influence

The newest thing Bitcoin can buy: Political influence

You may have a new way to support your favorite political candidate in upcoming national races: Make a Bitcoin donation.

In a move that will likely be approved later this month, the Federal Election Commission is considering allowing campaign contributions in the form of the digital currency, according to The Verge.

Bitcoins will be considered “in-kind contributions” rather than being used as direct money contributions for two reasons: the crypto currency isn’t the official currency of any nation, and holders aren’t able to exchange it for cash like a check or money order, the article notes.

Instead, the commission suggests using the valuation the Bitcoin holds when the donation is received.

The Federal Election Commission could soon approve Bitcoins as a way to back political candidates.

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The Federal Election Commission could soon approve Bitcoins as a way to back political candidates.

 
 
 
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This entry was posted on November 8, 2013 by and tagged .

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bitcoinvancouver2013@gmail.com

bitcoinvancouver2013@gmail.com

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