You could soon use bitcoin to support political campaigns

politicalcampaigns22 Apr 2014 / CNN Money – The Federal Election Commission will consider a request this Wednesday that could open the floodgates for donors to make political contributions in Bitcoin in the upcoming mid-term elections.

 It’s a sign of increased acceptance of the upstart currency, as more businesses and individuals are starting to embrace Bitcoin payments as an alternative to credit cards.

If the panel rules in favor, it would be a turnaround from last fall, when the election commission deadlocked on a similar request.

Related: My business accepts bitcoin

Sai, who runs the political group Make Your Own Laws, is hopeful the commission will approve it this time. (Sai is his legal name.) Make Your Own Laws, which filed the request, is a nonpartisan group – its website says its aim is to use technology to give individuals a louder voice in elections and democracy.

Since there’s no law that currently prevents the use of Bitcoin in elections, a handful of candidates and political groups say they’re already accepting Bitcoin.

Texas Attorney General Greg Abbott, who is running for governor in that state, said last week he’d accept donations in Bitcoin. The Libertarian Party also collects between $10,000 and $20,000 in bitcoin each year. It’s a small percentage of the $1 million it raises annually, according to Libertarian Party Executive Director Wes Benedict….. Read more

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