The National Republican Congressional Committee is the first national party to accept donations in cryptocurrencies.
Axios says the NRCC has partnered with crypto payment processor Bitpay. It will convert Crypto donations immediately into US dollars before deposition in the NRCC’s account. That means the NRCC won’t actually take possession of cryptocurrency when someone donates.
The NRCC has become the first national party committee to accept the crypto donations. By not taking possession of cryptocurrencies, the NRCC can avoid the maximum-limit of $100 per year for cryptocurrency transfers like Bitcoin. It can accept individual donations of up to $10,000 per year by converting them in dollars before depositions.
“We are focused on pursuing every avenue possible to further our mission of stopping Nancy Pelosi’s socialist agenda and retaking the House majority, and this innovative technology will help provide Republicans the resources we need to succeed,” Tom Emmer, a crypto-friendly U.S Representative, and the NRCC chairman told Axios.
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Emmer is also a co-chair of the Congressional Blockchain Caucus and a member of the house Financial Services Committee. He recently pressed the IRS to ease regulation on cryptocurrency donations to charitable groups.
The NRCC will collect identifying information of all the individuals who donate to the committee using cryptocurrency.
