The Federal Election Commission (FEC) has released a draft opinion that suggests the popular virtual currency bitcoin may soon be allowed for campaign donations, Finextra reported on November 8.
The paper indicates that bitcoin can be accepted as “in-kind” contributions, but that they must be converted to dollars before they can be used.
“I applaud the FEC for acting quickly to recognize this and develop a thoughtful policy that gives donors and committees rules of the road to utilize this emerging technology,” Senator Tom Carper said in a statement, according to the media outlet.
For more on the FEC’s statements and its impact on bitcoin, read the full report here.
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