FEC To Approve Bitcoin Political Donations

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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.

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