California’s political commission bans crypto donations to political candidates

22 Sep, 2018
by Fifi Arisandi
News
California’s political commission bans crypto donations to political candidates

California’s Fair Political Practices Commission bans donations in cryptocurrency to political candidates.

In a voting held on Thursday, California’s Fair Political Practices Commission (FPPC) voted 3-1 to banning donation in the form of cryptocurrency, such as Bitcoin to political candidates.

The main reason behind the banning is related to cryptocurrency’s origin, which is said to be difficult to track. This makes the transparency of the “real source” of the donation is questionable.

Despite the voting result, further debate and analysis are still expected. According to Coindesk, one of the FPPC's rep stated, "There was extensive research by staff, input from stakeholders that was publicly displayed on our website and public debate among the Commission today and that is the decision rendered. As was publicly stated by many if not all of the Commissioners, there will be further debate and analysis in the coming months and years."

Another state, such as South Carolina, is reported to have made similar decisions, while Colorado and Montana decide to allow donations in crypto with some restrictions.

The rule, however, doesn’t apply to federal candidates as the Federal Elections Commission allows such donations, based on the rule made in 2014.

Twitter, Telegram and Facebook!

Read more about: Bitcoin (BTC)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage