clock menu more-arrow no yes

Filed under:

Federal Election Commission 'not ready' to approve campaign donations in Bitcoin

New, 17 comments
Bitcoin suitcase
Bitcoin suitcase

The Federal Election Commission declined to approve the use of the virtual currency Bitcoin for political donations today. Despite an early advisory opinion that said the currency should be allowed as in-kind donations, the commission deadlocked when it came time to make the change official. The three Republican members of the commission were ready to approve the use of Bitcoin, but the three Democratic members were concerned that the currency's semi-anonymous nature would allow donors to circumvent campaign contribution laws. “They didn’t say no,” Dan Backer, who filed the request on behalf of the Conservative Action Fund (CAF), told The Hill. “They decided they’re not ready to say yes.”