The Ethics Commission considers legalization of cryptocurrency donations


Bitcoin and other cryptocurrencies are no longer some exotics. They are gaining wider and wider use in the life of a citizens. They can be used for donations too. It should be put in the context of common laws to function in full strength, considers Libertarian Party of Wisconsin.

Today The Ethics Commission will held a hearing dedicated to the issue. As for now there is a limbo surrounding the donations made in bitcoin thus many politicians and movements hesitate to accept donations made in Bitcoin, Etherium and other digital currencies. It should be noted that Bitcoin donations were already approved as a form of “in-kind contributions” by the Federal Election Commission in 2014. There is an opposition for the wider use of cryptos as a form of donations, however. Some people are pointing out that Bitcoin and so-called “altcoins” can’t be traced back to the individual that sent it making room for possible evasion and foreign influence.

The outcome of the hearing is important for many grassroots movements and political activists. Considering Federal ruling of 2014 there are high chances that at least pathway for the further implementation of digital currencies use in political funding will be established.

Leave a Reply

Your email address will not be published. Required fields are marked *