2 years ago
Under the projected amendments, crypto run contributions nether $100 were acceptable, provided the receiver instantly person the funds to USD and not HODL them.
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Lawmakers successful the Kansas House of Representatives person introduced a measure proposing to amend the legislature’s rules connected governmental run donations.
According to the bill, nary idiosyncratic would beryllium allowed to make oregon judge crypto contributions of much than $100 for immoderate governmental campaigner successful the state’s superior oregon wide election. For donations nether $100, the receiver would request to “immediately convert” the crypto to U.S. dollars, not usage the crypto for expenditures, and not HODL the funds.
The projected measure included provisions that seemed to beryllium aimed astatine mitigating overseas contributions to elections successful Kansas, by requiring idiosyncratic accusation from those sending crypto — including “that they are not a overseas national”. Crypto run contributors would besides person to nonstop the funds done a U.S.-based speech with definite Know Your Customer requirements.
The $100 headdress would beryllium based connected the “fair marketplace value” of the crypto astatine the clip the publication was received. Kansas lawmakers archetypal introduced the measure to the House connected Jan. 25, aboriginal referring the authorities to the Committee connected Elections.
Kansas Governmental Ethics Commission said successful 2017 that cryptocurrency contributions were “too secretive”, specifically referring to Bitcoin (BTC). The authorities of California imposed a prohibition connected governmental run donations successful 2018, but changed people successful July 2022 — besides capping contributions astatine $100.
Related: FTX seeks to claw backmost governmental donations by the extremity of February
Though not a large predetermination twelvemonth successful the United States, crypto continues to beryllium an contented for lawmakers astatine the national and authorities levels. In April 2022, Ireland’s authorities issued a prohibition connected crypto governmental donations, citing concerns astir overseas interference successful the country’s elections.
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