Topic: California may allow campaigners to accept digital currency donations (Read 300 times)
September 14, 2018, 11:12:37 AM
It is great news for bitcoin investor. It encourage them to invest. If some more good news like this will come then really it will help in price recovery.
September 14, 2018, 10:48:50 AM
That's a good idea if california may allow campaigners to accept digital currency donations because users in that country are not hard to invest bitcoin because they agree, because of that many people are glad.
August 29, 2018, 11:18:02 AM
Bitcoin penetrates into all real life spheres. Mercy and sacrifice the area is very delicate. I hope and in the same time bitcoin at the head of the crypto currency will put things in order.
August 29, 2018, 03:20:02 AM
I think that's a great news. Many US exchanges have also issued futures contracts for Bitcoin. That proves the US government and many people have understood the importance of digital money.
August 29, 2018, 01:35:48 AM
This is where kyc comes into play, they are concerned about illegal funding so they simply need to setup kyc donarions rather than just posting a bitcoin address. California probably has a lot of whales so it should go well for them
August 26, 2018, 03:34:09 AM
Hmmm wouldn't accepting digital currency donations allow campaigners to embezzle funds more easily? Like one could possibly lie about the total amount of donations and just get some coins out of the pot and run them through a mixer or something. I think there will be a lot of misappropriation of money going on in such a scenario.
August 26, 2018, 12:55:17 AM
I think the world at large is experiencing a total shift and this will help both citizens and the government .and with the way the move is moving to the digital economy i think its a win win for bitcoin and other digital currency, for a state in the US accepting digital currency for campaigners wow that's a big one for bitcoin and its users,i guess in no time errytn will be stable
August 25, 2018, 12:56:56 AM
According to coindesk, the California Fair Political Practice Committee met on Thursday to discuss whether the campaign can accept digital currency donations.In opposition, committee member Nicolas Heidorn suggested allowing campaigners to accept digital currency contributions after further research on digital currency.The Committee does not agree with this recommendation.
Among the members who support cryptocurrency, Allison Hayward is the most prominent.She opposed a total ban on digital currency, and she said she particularly hated to ban digital currency from becoming a campaign fund before she did not investigate it, and she believed that blockchain technology would eventually become a powerful tool in trading behavior.
Both Brian Hatch and Frank Cardenas believe that digital currency should not be completely banned, but if this proposal is accepted, the ensuing fraud becomes the biggest problem. The committee did not reach a final conclusion and will continue discussions next month.
The best thing about politics is they can accept donations in any form, from crypto or fiat money but SEC disapprove ETF regulation recently. And few politician still saying cryptocurrency is ponzi scheme.
. August 24, 2018, 11:47:21 PM
This is interesting news that will be in the spotlight for other developing countries because it is indeed at events like this that will provide opportunities for cryptocurrency to introduce blockchain technology that is indeed being studied in other developed countries
August 24, 2018, 10:43:23 PM
This is a good way to allow another opportunity for both ends. The campaigners will surely get more donation most especially to those people the gladly share their crypto currencies as well as to the side of crypto currency, it will boost its use as more people will come reach and notice the importance of crypto currencies, and for that, I think that they will truly approve it.
Wow this is literally a great news for the whole digital currency community. It can create a lot of opportunities and the advertisement of this system would be surreal. I think this should be taken advantage so that digital currency will be known all over the world. Well if this will be successful then it can really create a change. August 24, 2018, 10:37:53 PM
Your damn straight they will. Notice the government agencies are all getting in on it. Mean while on the media they tell how awful it is. Just get in and hold tight. This thing is going to absolutely launch. Just a matter of time.
August 24, 2018, 10:07:13 PM
This is a good way to allow another opportunity for both ends. The campaigners will surely get more donation most especially to those people the gladly share their crypto currencies as well as to the side of crypto currency, it will boost its use as more people will come reach and notice the importance of crypto currencies, and for that, I think that they will truly approve it.
August 24, 2018, 06:59:55 PM
It is a good move to accept cryptocurrencies as part of campaign donation and a donor can now safely and privately contribute to the campaign where the transactions of cryptocurrencies are anonymous thus preventing from any conflict of interest to the political parties. I hope that blockchain technology can also be applied to voting system.
August 24, 2018, 06:44:07 PM
Cryptocurrency goes into politics. Of course this will attract a lot of eyes. Of course they know that many people among them hold crypto coins. And with cryptocurrency, they can collect funds with a wider range.
August 24, 2018, 06:28:40 PM
No sooner than later will more use case of bitcoin dominate the world as it offers better resolutions to basic problems of man. Bitocin will surely be reckoned with and all disparities surrounding Bitcoin will disappear naturally. I trust California to accept Bitcoin and witness the power it possess.
August 24, 2018, 05:52:23 PM
They are definitely smart people knowing the power this currency have. However, it's better for people wanting to invest more for it to wait since that would increase the price for sure - Depends on the committee at the end.
I personally would like them a lot more if they do it. It would prove an impressive adaptability on their part.
I personally would like them a lot more if they do it. It would prove an impressive adaptability on their part.
August 24, 2018, 05:31:29 PM
If they would, there'd be many people on the streets talking about fraud and whatnot, all the while ignoring fiat donations and shady dealings during an election campaign.
I suspect you're right.
I've worked on the legal/compliance of side of campaigns before. While it seems like the FPPC, FEC and others are open to the idea of political committees accepting cryptocurrency, there are a couple angles from which it seems problematic.
For one thing, regulators may opine that BTC contributions are akin to cash contributions because there are no banks involved and there's no way to verify funding source. If so, that means there will be much lower contribution limits than for checks or credit cards. That's one way to limit allegations of campaign money laundering and fraud -- by limiting the amount of money that can come from cryptocurrency.
Also, inevitably these bitcoins will be converted into fiat knowing that not every campaign materials and/or services can be paid with bitcoin, so what's the fuss about?
I think it's about knowing/verifying/disclosing the identity of donors. In California elections, donors of $100 or more are supposed to be publicly disclosed on campaign finance reports.
August 24, 2018, 05:06:34 PM
If they would, there'd be many people on the streets talking about fraud and whatnot, all the while ignoring fiat donations and shady dealings during an election campaign. It will be an issue for sure, but at the end of the day, if the local government of California recognizes bitcoin as money, why would others don't? Also, inevitably these bitcoins will be converted into fiat knowing that not every campaign materials and/or services can be paid with bitcoin, so what's the fuss about?
August 24, 2018, 04:29:06 PM
I just found this on FEC.gov:
https://www.fec.gov/help-candidates-and-committees/filing-reports/bitcoin-contributions/
https://www.fec.gov/help-candidates-and-committees/filing-reports/bitcoin-contributions/
August 24, 2018, 04:27:17 PM
It will be great if this happens. All we can do is to pray so that they accept it. It will be a great news for crypto users. But their concern about ensuing fraud is really a big problem as scamming has become a huge problem in crypto currency. Hope they will find a way to solve it and will accept it.
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