The National Republican Congress Committee (NRCC) has decided to accept cryptocurrency donations to support its candidates for next year’s election. According to a report published by US News, first reported by Axios, the committee is the first national party to make contributions to digital assets such as Bitcoin (BTC) amid increasing adoption by various sectors.
Via the payment system that the NRCC uses, the report found that the committee selected Bitpay for this purpose. In 2014, the federal electoral committee approved a $ 100 value for the transfer of cryptocurrencies. “We are focused on taking all possible avenues to advance our mission and recapture the majority of the House of Representatives. Tom Emmer, NRCC Chairman, commented.
A spokesman for the NRCC, Michael McAdams, clarified the following with regard to the personal data on posts: “The NRCC would accept the same personal data that we make with any other post, up to normal contribution limits.”
Additionally, McAdams stated that all virtual currency donations would be converted into US dollar fiat before going to the NRCC’s accounts.
Bitcoin and Politics
Bitcoin’s relationship with US political parties is nothing new and has been widely debated even this year in terms of adoption. Personalities in the sphere like Andrew Yang, the former presidential candidate and prominent Bitcoin supporter, submitted paperwork to run for New York City mayor last year. He has been vocal on the current regulatory affairs surrounding cryptocurrencies in the United States. He even hinted at the possibility of making New York a major hub in terms of crypto regulation.
“Bitcoin and other cryptocurrencies have grown rapidly to represent a great deal of value and economic activity, and to outpace government response. I plan to promote laws that will clarify the cryptocurrency / digital asset market by defining what a token is and which federal agencies have the authority to regulate the cryptocurrency / digital asset space, “said Yang during his failed presidential campaign.