09 Sep '13, 8pm

Using Bitcoin to Donate to Your Favorite Politicians May Soon be Reality - Fox Business

Come 2014, voters may be able to make Congressional campaign donations using the cyber currency bitcoin. Last week, the Conservative Action Fund PAC asked the Federal Election Commission to rule how the virtual currency could be used in political fundraising campaigns. The regulatory agency is in charge of setting the legal parameters of campaign finance legislation. Bitcoin was introduced in 2009 as an open-source software code and has since boomed into a $1 billion industry, but it remains unregulated. The technology is being “rapidly adopted” by many of the libertarian-minded donors within the PAC’s audience, according to attorney Dan Backer of DB Capitol Strategies, who filed the request on behalf of the Conservative Action Fund. Backer is hoping to have a response within the next 60 days. “There is no clear guidance on how to treat these donations, and if we want to d...

Full article: http://www.foxbusiness.com/personal-finance/2013/09/09/us...

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