The Federal Election Committee (FEC) recently determined that political campaigns are allowed to accept bitcoin donations. BitPay makes it easy for political campaigns to accept Bitcoin. We are excited about the FEC ruling, and expect to be working with many more political campaigns in the near future.
The Federal Election Committee (FEC) recently determined that political campaigns are allowed to accept bitcoin donations. One notable political campaign that has already taken advantage of the FEC's decision is Bob Barr's campaign for Congress.
Barr is running for Congress in the 11th Congressional District of Georgia and is already accepting bitcoin donations via BitPay on his campaign website. Barr has taken a strong stance on Bitcoin. He supports the free-market philosophy behind the currency's creation and would like to join the Financial Services Committee to help preserve the freedom to use Bitcoin.
We have worked hard to ensure that any political campaign accepting bitcoin donations can be completely compliant with campaign finance laws. Using our service, a campaign is able to create a button for their donation webpage which transfers the the bitcoin donation and collects the donor's name, address, and email address. The campaigns also have the option of choosing to collect higher dollar amounts and program the button to collect additional information required by law. The real-time exchange rates are recorded and logged for each transaction. Our platform also settles the funds daily via direct bank deposit, so campaigns accepting bitcoin receive all of the same reports and bank settlement that they receive from their credit card processor.
We have been a leader in helping candidates accept bitcoin, beginning in 2012 with New Hampshire Representative Mark Warden's winning re-election campaign and followed by 2012 Congressional Candidate Eric Olson in North Dakota and the national Libertarian Party.
Our platform makes it easy for political campaigns to accept Bitcoin. We are excited about the FEC ruling and expect to be working with many more political campaigns in the near future.