In the US state of California, politicians will be allowed to receive Bitcoin (BTC) donations from the public for their political campaigns.
The political practices commission held a vote allowing donations for digital currencies like Bitcoin at its meeting yesterday.
Bitcoin (BTC) Donation Period in Political Campaigns in California
It will be accepted if politicians in California receive donations in Bitcoin and all other cryptocurrencies for their political campaigns and immediately convert them to dollars. According to the news of the LA Times, the new law, which will take effect two months later, was approved unanimously.
California was one of nine states that previously banned the contribution of cryptocurrencies. However, the ban mentioned in the state has been lifted. According to a report published by a commission staff, 12 states and Washington DC somehow approve the contributions of digital money.
As a small reminder, candidates serving for federal office were allowed to accept cryptocurrency donations.
The law stipulates that the candidate must work with a registered cryptocurrency company to process this donation. Also, the donor’s name, occupation, etc. It will also need to perform authentication processes such as security and speed.
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