Wisconsin Mulls Guidelines for Campaign Contributions in Bitcoin

Authorities in the state of Wisconsin have discussed the adoption of guidelines regarding cryptocurrency contributions to political campaigns, as requested by the Libertarian Party. Other states, like California, have urged politicians not to accept bitcoin donations. Kansas is the only state prohibiting such contributions. The Federal Election Commission allows crypto donations to campaigns for federal office.

Libertarians: The Question Is Not “Whether” but “How”

The Wisconsin Ethics Commission held on Tuesday a public hearing on a request from the state’s Libertarian Party regarding the adoption of guidelines for crypto contributions to political campaigns. The party’s chairman, Phil Anderson, wants to know how such donations would be counted toward the limits set by the state in dollars.

“Digital currencies, such as bitcoin, litecoin and ethereum, are more and more widely accepted as currency and as stores of value,” the libertarian said, quoted by the La Crosse Tribune. “The Chicago Board Options Exchange offers a futures market for bitcoin. Corporations and governments are weighing in on not ‘whether’ to address cryptocurrencies, but ‘how’,” Anderson wrote in the request.

David Buerger, staff counsel for the commission, admitted he is not yet aware of any instances in Wisconsin in which cryptocurrency contributions to state campaigns were given or accepted. Libertarians are among the stronger supporters of bitcoin. The idea of a decentralized cryptocurrency, not controlled by a central authority or bank, is in line with their political views and opposition to government control over the national currency.

During Tuesday’s meeting, commissioners suggested that if digital currencies were counted as a monetary contribution, crypto donations would be subject to the $100 limit applicable to cash contributions. Larger donations must be made by a credit card or a bank check.

Only One State Prohibits Crypto Donations

The question of cryptocurrency contributions to political campaigns is one of many crypto-related issues that have been addressed differently in each state. For example, California has issued a warning against such donations. The Fair Political Practices Commission in the Golden State urged campaigns not to accept digital coins because their transactions are considered “virtually impossible to trace”. Last year Kansas became the first state to ban bitcoin contributions. According to its ethics commission, cryptocurrency is “too secretive”…

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