• Receiving Bitcoin Donations in Political Elections Was Banned in California (水城百事)

by 匿名, Saturday, September 22, 2018, 02:03

According to the Associated Press, the California Fair Political Practice Committee (FPPC) banned donations in the form of cryptocurrencies in political activities on Thursday with a 3–1 vote, which was mainly because it’s difficult to track the source of such contributions and even affect the transparency of politics.

Previously, the FPPC discussed a number of issues in the election at a hearing in August, including whether it was possible to use monero coin or ada coin such cryptocurrencies for political activities. At the time, the committee did not make a decision.

Although some members are dissatisfied with this result, the biggest problem they can’t help but think about: How can we track the source of funds behind the cryptocurrency? How to ensure that there are no frauds in the election?

Although the decision has been made, a representative of the FPPC told CoinDesk that this issue will be further debated and analyzed for some time to come. “The staff conducted extensive research and the opinions of stakeholders were displayed on the website. The decision is made in the open debate today. As many people have publicly stated, there will be more debates and analysis in the coming months and years. ”

Currently, the US Federal Election Commission allows candidates to accept cryptocurrencies such as bitcoin coin as in-kind donations. This ruling was made in 2014.

At the state level, such as South Carolina, a similar position was taken with the state of California, and bitcoin donations were directly banned. Other states, such as Colorado, allow cryptocurrency donations, but set a limit on the amount of donations.