Bitcoin
(Picture: Getty Images)The Republicans’ House campaign arm will begin accepting contributions in cryptocurrency, it has announced.
According to Axios, the party will be the first national political party in the US to accept donations of these kind and will be using BitPay as a payment processor and converting donations into dollars.
In a statement, Republican Congressman Tom Emmer said: “We are focused on pursuing every avenue possible to further our mission of stopping Nancy Pelosi’s socialist agenda and retaking the House majority, and this innovative technology will help provide Republicans the resources we need to succeed.”
Axios analysis added that the party will never handle crypto itself due to it being immediately converted, allowing it to accept larger donations than it would if it was receiving cryptocurrency.
Meanwhile, while it is the first party to do so, some federal political candidates have already accepted crypto donations in recent months, leading the Federal Election Commission to express concerns about campaign finance rules, not least because the donations are often anonymous.
As such, the Republicans have said they will diligently gather identifying information from all individuals who use crypto to donate.
The future is now.
