California Bans Crypto Donations for Politicians
September 24, 2018
By the latest decree by the Fair Political Practices Commission (FPPC), California, US, from now on state government representatives are deprived of the right to receive crypto donations.
On Thursday, September 20, the members of the Commission voted for imposing ban on cryptocurrency donations due to politicians. The primary reasons for this include complicated traceability of the sources of this kind of transactions and their insufficient transparency.
The hearing followed the issue arisen by the FPPC last month when they proposed crypto donations in political campaigns. At that moment the decision on the matter was delayed without day.
“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 FPPC member told.
Note that earlier the South Carolina also prohibited such donations while authorities of Colorado permitted them yet set limits for transfer amounts.
In addition, for now by the decision taken in 2014 the US Federal Election Commission allows local candidates gain donations in digital currency.