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FEC issues opinion on Bitcoin

The FEC has become the latest agency to issue guidelines on the usage of Bitcoin. On May 8, the six-members of the FEC issued an Advisory Opinion at the request of Make Your Laws PAC (MYL), a nonpartisan political action committee that supports “making every legislature a liquid democracy.” This advisory opinion was actually an approval of MYL’s third draft proposal for an opinion on whether or not the PAC could accept Bitcoin. The original proposal by MYL would have “allowed” them, and all PACs, to accept Bitcoin donations online, only “after the contributor provides their information, and only through a ‘one-time linked address’ system that makes it harder to contribute in someone else’s name” and donations would be limited to $100 worth of Bitcoin (per contributor, per election). Continue reading FEC issues opinion on Bitcoin