Cryptocurrency Donations for Campaigns

[lavishlife]

Colorado Proposal Aims to Allow Cryptocurrency Donations for Campaigns

The state of Colorado is considering giving political candidates the ability to raise funds using cryptocurrencies. This week the Secretary of State, Wayne Williams, presented the proposed guidelines and officials are looking for commentary from Colorado residents.

Colorado Secretary of State May Allow Politicians to Accept Cryptocurrencies for Campaigns

Colorado is a state that is well known for testing new laws and guidelines like allowing recreational cannabis throughout the state. This week politicians from the Rocky Mountain state are considering allowing political candidates to accept bitcoin and other forms of digital assets. Secretary of State Wayne Williams proposed the new rules in a draft submitted on May 16, 2018. The proposal states: 
        "A committee may accept contributions in cryptocurrency, up to the acceptable limit for a cash or coin contribution. The amount of the contribution is the value of the cryptocurrency at the time of the contribution. The committee must report any gain or loss after the contribution as other income or receipts."

article link: https://news.bitcoin.com/colorado-proposal-aims-to-allow-cryptocurrency-donations-for-campaigns/

Another great idea, this idea opens more opportunity. 

[tdeannova]

frankly this will give education to all circles of society about blockchain and crypto. they will know more and may be able to influence and raise demand for the purchase of crypto in the market.

[Msile]

Colorado would not be the first in U.S. in allowing donations to political campaigns in cryptocurrency. The first one was New Hampshire, which started allowing candidates to accept contributions in cryptocurrency in 2014.