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Author Topic: NEW FEC advisory opinion draft req re Bitcoins (DEADLINE: 1st week December)  (Read 2962 times)
saizai
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November 09, 2013, 07:12:49 PM
 #1

Howdy all.

The Conservative Action Fund PAC has recently filed an FEC advisory opinion request asking whether PACs should be allowed to accept Bitcoins.

Request: http://saos.nictusa.com/aodocs/1245451.pdf
Comment by BitPay: http://saos.nictusa.com/aodocs/1246139.pdf
Comment by Bitcoin Foundation: http://saos.nictusa.com/aodocs/1246138.pdf
Draft AO: http://saos.nictusa.com/aodocs/201315.pdf

I found out about it a couple days ago, and we are preparing a formal response, which you are welcome to view and comment on here:

https://docs.google.com/document/d/1laZxfuna-AXsW9WC4b53s_Eb1YAg7pY-YQAGKcUE9iw/edit

We will be submitting this formally on Nov 12th. I would welcome your feedback on the above draft before then (on this thread, by email or inline in google docs).

I encourage you to submit your own comments for the record if you wish. If you would like to do so, just email ao@fec.gov, mention "AO 2013-15 Conservative Action Fund", give your name and the name of any group you represent, and explain your views in response to the above documents. The deadline is November 13th, 12pm Eastern time.

Sincerely,
Sai
Make Your Laws PAC
https://makeyourlaws.org

PS Forum mods: could you please move this to general->legal? (ETA: Thanks!)
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saizai
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November 14, 2013, 01:21:19 AM
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Our comment has been posted (ungarbled copy here).

The FEC also posted two new draft AOs and extended the deadline to Nov 14, 9am Eastern.
saizai
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November 16, 2013, 09:01:01 PM
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Posted a page to track the links: https://makeyourlaws.org/fec/bitcoin

FEC decided to wait another week while they draft a new AO. Meeting audio: http://www.fec.gov/audio/2013/2013111402.mp3
saizai
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November 17, 2013, 08:56:34 AM
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Filed comments on issues raised in the FEC's open meeting discussion.
saizai
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November 23, 2013, 08:41:20 AM
 #5

FEC deadlocked 3-3. We are preparing an immediate follow-up draft to propose the safe harbor policy we advocated in our comments, to be submitted in 1st week of January (if not earlier).

Comments appreciated.

[All links @ https://makeyourlaws.org/fec/bitcoin]
saizai
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November 27, 2013, 07:41:07 AM
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Forgot direct link: https://docs.google.com/document/d/1Bt88bwEqMKjV3-onS6_KDV7AIvyOJSLz9eLA_vC_McE/edit#

Also FWIW: there's been significant misreporting of the FEC decision on AO 2013-15 CAF.

They did NOT say that PACs can't take Bitcoin. Quite the opposite, they were more or less unanimous in saying that they can (during the discussion), and they're continuing to let the Libertarians etc accept Bitcoin. But CAF didn't ask *how* they should take it w/ adequate accounting standards, and they didn't answer a question CAF didn't ask, so they didn't sign off on a totally unexplained "we'll collect adequate info but we aren't saying how" request.

Which is why we're making ours.

Anyway, comment please and let us know what you think is good / should change / etc, 'cause we're trying to set up what is likely to be THE Standard Sanctioned Way to Accept Bitcoins if you're a political anything.
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