North Carolina has promised to accept candidates for state elections to accept campaign donations made in Bitcoin and other cryptographic currencies. This statement comes from the election campaign finance bureau of the North Carolina Elections Commission in response to Emmanuel Wilder, a presidential candidate for the National Assembly.
Earlier in the year, Emmanuel Wilder asked if he could accept campaign donations to the State Council for BitCoin and other digital currencies. The applicant has proposed in its application a framework that the Board will use to add value to the volatile asset class.
The Commission sent a letter from the Executive Director, Kim Westbrooks Strach, denying the request. The rejection is based on the fact that the state’s campaign finance regulations have put monetary limits in US dollars. The board also believes that cryptographic money can not be measured reliably.
He reads a quote from the letter:
“We have no confidence that we can adequately regulate the contributions of a political campaign in North Carolina in the form of a cryptocurrency.”
In his reaction, disappointed but optimistic Wilder said:
“Blockchain and other technologies have the ability to develop how businesses and public institutions work from day to day … Even if it is not today, it will be a day when this technology will be part of the political process . ”
Some political commentators believe that the anonymity perceived by bitcoin and other crypto-currencies is a problem that can potentially undermine prudence and campaign finance rules. Democracy spokesperson North Carolina, Jen Jones, recommended that an observer of campaign funding in the Council consider this issue.
“The government should also consider whether it is possible to receive campaign donations via CryptoCurrency and whether it is possible to meet the information needs of the government at the same time,” he said.
North Carolina is not the only US state that prohibits CryptoCurrency campaign donations. In 2017, the Kansas State Ethics Commission decided that candidates working in local and state elections would not be allowed to accept donations from the Bitcoin campaign.
Austin Petersen, a US candidate in Missouri in June, had to return to a $ 130,000 bitcoin donation because it was more than $ 5,400, the individual contribution limit imposed by the FDI.
Nevertheless, the Federal Election Commission (FEC) declared in 2014 that candidates in federal elections were allowed to collect contributions to BICOIN and gave guidelines for such collections. Under US law, states are free to determine their own rules for election candidates.