Key Takeaways:
- Rep. Mark Wright wants detailed findings on the issues related to accepting cryptocurrency as campaign donations.
- The report should be produced before the commencement of the 2023 session.
Recently, a Louisiana lawmaker has urged the Supervisory Committee to carry out a detailed study on the “issues surrounding the acceptance of campaign contributions in the form of cryptocurrency”.
The bill titled, ‘HR 180‘, was introduced by Representative Mark Wright earlier this week. It mentions that seventeen states have already conducted studies and taken steps towards accepting cryptocurrency. It is also stated that the legislature discussed during the 2022 Regular Session of the Legislature would have provided a definite solution to the issue.
The lawmaker has also mentioned that there is an increased interest in regards to making donations to campaigns in the form of digital currencies. The bill has also cited the opinion of the Federal Election Commission from May 8, 2014. It included that bitcoin can be accepted for campaign donations. However, it also stressed that donation in virtual currencies should be reported as an “in-kind contribution”.
The bill has requested the Committee to produce a report on Campaign Finance Disclosure and produce it to the House of Representatives of the Legislature of Louisiana not later than 60 days before 2023 the Regular Session.
