FEC Approves Bitcoin In-Kind Donations for US Political Campaigns
The US Federal Exchange Commission (FEC) has determined that political campaigns and political action committees (PACs) may accept bitcoin as a form of in-kind donation under current federal election laws.
The FEC previously delayed a decision on a request for clarification from Make Your Laws (MYL) – an organisation that facilitates political contributions – which sought guidance on how it could go about accepting and using bitcoin donations, as well as general rules for handling digital currencies.
In its draft report, the FEC tracks closely with comments made previously by the commission’s leadership regarding the potential for bitcoin to be qualified as a type of in-kind donation.
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