National: Federal Election Commission could allow Bitcoin campaign donations | Politico

Coming soon to a political campaign near you: Bitcoin donations? The Federal Election Commission is poised to determine rules governing donations made in Bitcoins and how they apply to political campaigns. Attorneys for Conservative Action Fund PAC asked the agency decide if political candidates and outside groups are allowed to accept the digital currency, in addition to U.S. dollars. “As increasing numbers of individuals trade in Bitcoin, political parties and candidates also wish to accept and spend this new currency,” Dan Backer of DB Capitol Strategies wrote in the request. The request lays out 24 technical questions for the FEC regarding the use of Bitcoin as political contributions. Backer told POLITICO that he expects that by 2014, many federal candidates will be interested in accepting the currency — and that many donors will demand it. “We see a real future for this, especially among libertarian-minded supporters,” Backer said.

Full Article: Feds could allow Bitcoin campaign donations - Byron Tau -

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