Lawmakers in the Kansas House of Representatives introduced a bill proposing to change the legislature’s rules regarding political campaign donations.
According to the bill submitted by lawmakers, the person receiving the donation will immediately convert the amount into USD and will be able to accept donations under $100.
A New Perspective on Crypto Donations from Kansas Lawmakers
Lawmakers in the Kansas House of Representatives introduced a bill proposing to change the legislature’s rules regarding political campaign donations.
If the bill is approved, no more than $100 in crypto donations will be allowed or accepted for any political candidate in the state’s primary or general election. For donations under $100, the recipient will be required to convert the donation directly into USD.
The proposed bill contains provisions that aim to reduce contributions from other countries to the Kansas elections by requesting personal information, including that crypto donors are “not foreign nationals.” Those who contribute crypto to political campaigns will have to send their funds through a US-based exchange that has certain KYC (Know Your Customer) requirements.
As a note, making crypto donations to political campaigns was also on the agenda when ex-CEO of FTX, Sam Bankman-Fried, was put on trial.
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