Bitcoin may soon be used for political donations

Politics
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FILE – In this April 3, 2013, photo, a man holds a token beaing the symbol of a cryptocurrency at his shop in Sandy, Utah. The tiny Marshall Islands is creating its own digital cryptocurrency in order to raise hard cash to pay bills and boost the economy. The Pacific nation says it became the […]

PORTLAND, Ore. (KOIN) — “Cryptocurrency is here to stay,” according to Oregon Secretary of State Dennis Richardson, and soon it could play a part in Oregon political campaigns. 

Richardson announced a proposed change to the state’s campaign finance rules that would allow campaigns to accept cryptocurrency, like Bitcoin, as donations. 

“Oregon needs to adapt to that reality by allowing this new form of donating,” Richardson said in a statement. “Allowing cryptocurrency to be a part of our elections process is a new and innovative way to expand participation in Oregon elections.”

The proposed change, according to Richardson, would mirror policies put into place in 2014 by the Federal Elections Commission. It allows for donations, but no expenditures made with cryptocurrency. 

Last month, Colorado also proposed the addition of cryptocurrency to campaign donations, according to the Denver Post

Suzanne Staiert, Colorado’s deputy secretary of state, also pointed to the FEC’s rules for cryptocurrency as reference for state changes. 

“The FEC is doing it now,” Staiert said “So we are just going along for the ride.”

Richardson said a public hearing on the proposed rule changes will be held on July 23 from 3:30-4:30 p.m. at 255 Capitol St., Suite 501, Salem, OR 97310. Comments can also be submitted online until 4 p.m. on Aug. 7 at elections.sos@oregon.gov.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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