Colorado has joined the ranks of the American states, legalizing the collection of donations in Bitcoins for political campaigns. According to local media reports, the state is currently drafting a bill authorizing contributions in cryptocurrencies.
Secretary of State Wayne Williams (Wayne Williams) made this offer last week. Depending on the project, donations in Bitcoins must be made in accordance with the same rules as regular contributions. Because of the volatility, the cryptocurrency in such deposits will be determined at the moment of the deposit.
The state government said it welcomes public opinion on this issue. Anyone can contact the office of the secretariat of Colorado before May 23 to confirm their proposals.
Donations are an integral part of the policy of political development and sometimes play a big role in political events. Bitcoin and cryptocurrencies can really influence political campaigns. The Federal Electoral Commission (FEC) in 2014 approved cryptocurrencies in accordance with the policy of election campaigns, deciding to classify such contributions as "non-monetary donations".
The New Hampshire boom was the first to approve this trend back in 2014, when Republican Andrew Hemingway became the first US politician to agree to accept donations in Bitcoin. Rand Paul also takes part in a donation in the bitcoins in his presidential election race in 2015.
0,244 BTC (4,500 dollars), received by Austin Petersen (Austin Petersen) from Missouri.
There are those who oppose the adoption of cryptocurrency for the financing of political campaigns. Issues related to the anonymity and risk of "dirty money" sent to politics, top the list of objections against this trend. The lack of full transparency in crypto-transactions, apparently, contradicts the philosophy of donations in America. There is also a volatility problem that can complicate fundraising. Even Suzanne Styert, deputy secretary of the state of Colorado, agrees. Onana:
"Campaigns that accept cryptocurrencies can potentially encounter problems in accounting."
Nevertheless, cryptocurrency is still money to be spent and if they can convert it in dollars, everybody will most likely accept it as donation. Why not, because the big brother told you not to do so? Oh well, next time politicians will accept Monero donations and receive anonymous money totally uncontrolled and untracked. Big Brother will never know the amount of dollars sent or received by the institution. If Big Bro tries blocking Bitcoin Transactions today, he’ll face Monero or Zcash in the future, facing much bigger crypto troubles because of the nature of anonymous protocols. Future is volatile, anonymous and highly decentralized - face it, Big Brother.