A new cryptocurrency ruling has been set up for the candidates running for public offices in the state of California, U.S. The Associated Press reported yesterday, that the campaign regulator of California has recently forbidden political donations paid with Bitcoin (BTC).
Earlier in August, the consideration of allowing cryptocurrency donations was made by the Fair Political Practices Commission (FPPC). The plan was to discuss about the pros and cons of adopting cryptocurrencies for political contributions.
Contrary to that on Thursday, September 20, The FPPC voted 3-1 banning the allowance of crypto donations in the state of California. The decision was explained due the concerns of political transparency and the ability to track the origins of these specific donations.
Following the released ruling, yesterday a representative of the FCCP told CoinDesk that the further discussions and debates will be still issued in the future, saying:
“There was extensive research by staff, input from stakeholders that was publicly displayed on our website and public debate among the Commission today and that is the decision rendered. As was publicly stated by many if not all of the Commissioners, there will be further debate and analysis in the coming months and years.”
The Golden state of California is not the first one to prohibit the crypto funding. The state of South Carolina follows the same ruling, but others, for example Colorado allows cryptocurrency donations – with a settled cap amount.
Author: Sarah Tuuli