FEC To Approve Bitcoin Political Donations

The Federal Election Commission is set to approve Thursday an advisory opinion that would permit political campaigns to accept Bitcoin donations, according to the Huffington Post.

Contributions of Bitcoins, a digital currency best known for its use in illegal online transactions, will be treated as in-kind gifts similar to stocks. The donation¬†amount will be calculated based on what Bitcoins are valued at the time of contribution — which has wildly fluctuated in recent days.

The FEC advisory opinion comes after the Conservative Action Fund request to use Bitcoins for campaign donations and expenses.