Colorado will allow bitcoin donations to political campaigns

Colorado is going to join the ranks of U.S. States to legalize the collection of donations in bitcoin to political campaigns. According to local media, the state is currently considering a bill authorizing contributions to cryptocurrencies.

Secretary of state Wayne Williams (Wayne Williams) had made the proposal last week. According to the details of the project, bitcoin donations will be made in accordance with the same rules as regular contributions. Due to the volatility of cryptocurrency, the value of such donations will be determined at the time of the contribution.

The state government has stated that it welcomes public opinion on this issue. Anyone can contact the office of the Secretariat, Colorado until may 23 to submit proposals.

Donations are an integral part of the American political landscape and sometimes play an important role in political events. Bitcoin and crypto currency can really have an impact on political campaigns. Federal election Commission (FEC) in 2014 approved of cryptocurrency as a way of funding election campaigns, preferring to classify such deposits as «non-monetary donations».

The new Hampshire first adopted this trend in 2014, when Republican Andrew Hemingway (Andrew Hemingway) became the first politician in the USA who agreed to accept donations in bitcoin. Rand Paul (Rand Paul) accepts donations in bitcoin in his presidential race in 2015.

To date, the largest donation in bitcoin for political campaign began 0,244 BTC (4 of $ 500) received by Austin Petersen (Austin Petersen) from Missouri.

There are those who oppose the adoption of cryptocurrencies to Finance political campaigns. Issues related to anonymity and the risk of «dirty money» directed to politics, topping the list of objections to this trend. The lack of full transparency in scripttrandate seem contrary to the philosophy of political donations in America. There is also the problem of volatility, which could complicate fundraising. Even Suzanne Staiert, Deputy Secretary of the state of Colorado, agrees. She said:

«A campaign that will be make cryptocurrencies can potentially face problems in accounting.»

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