Candidates for state and local offices in California will soon be able to accept cryptocurrency campaign donations.
The Fair Political Practices Commission voted Thursday to approve new rules allowing the donations for digital currencies such as Bitcoin.
The new rules say candidates can accept cryptocurrency donations if they immediately convert the digital currency into U.S. dollars. Candidates must use a registered cryptocurrency processor to handle the transaction that will collect the name, address, occupation and employer of each contributor. Cryptocurrencies don't rely on banks. Instead, transactions are recorded digitally through blockchain technology.
California's new rules will take effect within 60 days. California had been one of nine states that prohibited cryptocurrency contributions. Twelve states, plus Washington D.C., allow cryptocurrency contributions in some form, according to a commission staff report.Cryptocurrency© 2022 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alaska gubernatorial candidates draw outsized contributions with fundraising limits goneRepublican incumbent Gov. Mike Dunleavy and independent candidate Bill Walker received six-figure contributions from wealthy supporters after limits on campaign fundraising were lifted this year.
Read more »
FBI Warns of Fake Crypto Apps — 244 Investors Defrauded, $42.7 Million Lost – Featured Bitcoin NewsThe FBI is warning about cybercriminals creating fraudulent cryptocurrency apps to defraud crypto investors. bitcoin $BTC
Read more »
Security Service of Ukraine Shuts Down Crypto Mining Farm Near Front Line in Kharkiv – Mining Bitcoin NewsUkraine’s main law enforcement agency has busted an illegal facility mining cryptocurrencies in the Kharkiv region.
Read more »
Former Coinbase Employee Charged in Alleged Insider-Trading SchemeA former Coinbase employee and two others were charged with fraud in what prosecutors say is the first insider-trading case involving cryptocurrency markets
Read more »
SEC Says These Cryptocurrencies Are Securities: See the Full ListThe SEC has asserted that some cryptocurrencies are securities as part of an insider trading case
Read more »
KuCoin Raises $10 Million from TikTok Investor SIG, Further Explores Global Expansion and Infrastructure UpgradeLeading cryptocurrency ecosystem KuCoin receives investments from Susquehanna International Group amid major adoption accomplishments
Read more »