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VIDEO: Feds Approve Bitcoins For Campaign Contributions

VIDEO: www.jobrny.com

WASHINGTON — Bitcoin, the fast-growing digital currency, is coming to political campaigns. The Federal Election Commission (FEC) unanimously approved its use as a political donation Thursday, after months of debate on the issue. Commissioners imposed several conditions. Among them: No anonymous bitcoin contributions will be allowed, and campaign treasurers must scrutinize the donations for “evidence of illegality.”

Jim Harper, global policy counsel of the industry’s Bitcoin Foundation, said the FEC’s move lends further legitimacy to the computer-generated currency. “It’s another part of the growing body of regulation that establishes bitcoin as a co-equal part of the financial services system,” he told USA TODAY. Rep. Jared Polis, a liberal Democrat from Colorado and a bitcoin backer, immediately announced his campaign would begin accepting the digital money. He praised the FEC for its “forward-looking stance” to recognize “the rights of individuals seeking alternatives to government-backed currencies to participate in our democratic political process.”

NewsCanada-Plus says Bitcoin, the fast-growing digital currency, is coming to political campaigns. The Federal Election Commission unanimously approved its use as a political donation Thursday, after months of debate on the issue. Commissioners imposed several conditions. The Federal Elections Committee approved bitcoin donations to political committees. The U.S. Federal Election Committee said on Thursday that the virtual currency, bitcoin, could be used for donations to political action committees under certain conditions. In a unanimous vote, the FEC, which enforces U.S. How to customize this thumb write strong? FEC Allows PAC To Start Accepting Bitcoin Donations via NewsCanada-Plus for the first time. The Federal Election Commission gave the go-ahead for a political group to accept small amounts of Bitcoin. Thanks for checking us out. Please take a look at the rest of our videos and articles. To stay in the loop, bookmark our repost article preview in WASHINGTON D.C. for Reuters.