Controller of California prohibits political donations in bitcoin

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Controller of the state of California recently banned political donations in the cryptocurrency Bitcoin (BTC).

In August, the Commission on fair political practices (FPPC) has considered the question of granting donations in the cryptocurrency. Financial observer planned to discuss the use of Bitcoin and other digital assets for political contributions and to discuss their adoption.

Thursday, September 20, FPPC voted on donations in digital currencies such as Bitcoin.

The Commission typically allows bitcoin donations to Federal candidates. However, several States have banned or limited the type of contributions — South Carolina has banned donations of this kind, while Colorado and Montana are allowed to do it with some limitations.

There are several States that have managed to raise funds for their political campaigns via cryptocurrency. However, some of them raised questions about the transparency and legality of such contributions.

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