FEC Will Not Allow Bitcoin Campaign Contributions 49
First time accepted submitter memnock writes "ABC new reports: 'Political organizations can't accept contributions in the form of bitcoins, at least for now, The Federal Election Commission said Thursday. The commission passed on a request by the Conservative Action Fund, a political action committee, to use the digital currency. That group had asked the FEC recently whether it could accept bitcoins, how it could spend them and how donors must report those contributions. It was not immediately clear whether the same ruling would apply to individual political candidates.' Slashdot reported earlier this week that other federal agencies have taken positions that may recognize or regulate the currency."
Re:sure they can. (Score:4, Interesting)
Actually, I think accepting bitcoins for campaign donations would make it much better. Bitcoins are pseudonymous at best, they are not cryptographically anonymous. And the global transaction log shows exactly which wallets were involved, every step of the way. Track the wallet, track the campaign cash.
Sarah Meiklejohn is a researcher who was able to trace the bitcoins used for a marijuana purchase on the Silk Road. https://cse.ucsd.edu/node/2299 [ucsd.edu]
I'm all for allowing people to make mistakes in covering up their illicit activities.