May 4, 2025
Blockchain

California lifts ban on bitcoin donations to politicians

  • July 23, 2022
  • 0

The California Fair Political Practices Commission has lifted the ban on accepting digital asset donations from politicians, in effect since 2018. Participants voted unanimously to remove the restriction.

The California Fair Political Practices Commission has lifted the ban on accepting digital asset donations from politicians, in effect since 2018.

Participants voted unanimously to remove the restriction. The updated regulation includes transactions made through a third-party payment processor headquartered in the United States.

Second, they must register with the Financial Crimes Enforcement Network and comply with the following: KYC– procedure. All receipts must be promptly converted to US dollars and transferred to a bank account.

Recall that in the second quarter of 2022, the heads of cryptocurrency companies and venture funds actively donated to the election campaigns of US Senators Cynthia Lummis and Kirsten Gillibrand.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.

Source: Fork Log

Leave a Reply

Your email address will not be published. Required fields are marked *

Exit mobile version