California again allows crypto contributions to state, local political campaigns

California again allows crypto contributions to state, local political campaigns


Candidates for state and local office in California will once again be allowed to accept donations in cryptocurrency, after a ban was lifted by the state Fair Political Practices Commission (FPPC) on July 21. The ban was imposed in 2018.

California was one of nine states that had banned political contributions in crypto due to perceived transparency and Know Your Customer (KYC) issues. The question of contributions in crypto was revived in March, when the commission issued an opinion on the sale of nonfungible tokens (NFTs) for campaign fundraising.

In May, a report was prepared by the FPPC that examined three options for its crypto policy. Those were to maintain the ban, or treat crypto like cash, with a $100 contribution cap, as is done in several

Trending: BREAKING: Russian MIL Declares Ukraine The Origin of COVID-19!

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend