- Telecommunications Giant Vodafone Leaves the Libra Association
- Group of Central Banks Assesses Developing Central Bank Digital Currencies
- South Korea Might Impose 20 Percent Tax on Cryptocurrency Profits
- Report: Terrorists Increasingly Use Crypto to Raise Funds Anonymously
- Canadian Securities Administrators Subject Crypto Exchanges to Securities Laws
Even though the legal status of Bitcoin in the U.S. is still quite obscure, there are yet political figures and organizations out there that aren’t afraid to adopt the cryptocurrency as another means of accepting donations.
Phil Anderson, the Libertarian Party’s candidate for the governor of Wisconsin, now affirms that contributions to his campaign in Bitcoin(BTC)trade will be accepted. This is a move that’s in opposition to the state’s Ethics Commission which determined that cryptocurrency donations seem to be an illicit form of contribution.
Anderson did not shy away from the Ethics Commission’s decision and released the following statement:
We will not allow the lack of appropriate interpretation of the current statute (to) affect the First Amendment rights of those who want to show support and contribute. I have no faith in the Assembly to handle this fairly nor expeditiously.
In April, Anderson appealed to the Commission and asked for guidance on this relatively new form of digital payment, elaborating that its “growing popularity makes its eventual use inevitable.” A month later, the Commission rejected his request and rerouted it to the state’s Legislature since accepting Bitcoin donations “does not appear to fit” the adequate definition of contributions as it is expressed in the current statutes.
It appears that Bitcoin clashes with at least two aspects about which the Commission demanded clarifications: the volatility of its price and the contributions’ anonymity. At least regarding the second issue, Anderson believes that his Party is in compliance with the laws, since the Libertarian Party works with BitPay to accept cryptocurrency donations and it requires personal details such as names, addresses and phone numbers before making a contribution. “We’re interpreting the rules that the state Legislature has set forth,” Anderson stated.
What also might be affecting the Commission’s decision is the latest indictment of the Mueller Investigation in which 12 Russian operatives were accused of using Bitcoin as part of their efforts to meddle in the 2016 presidential elections. However, it should be noted that just because Russian agents were using Bitcoin doesn’t mean that their actions are in any way similar to other functions and practices that involve Bitcoin.
Since 2013, the Libertarian Party decided to accept Bitcoin donations.