The state regulator of California, Fair Political Practices Commission (FPPC) said at the Commission Meeting that it has organized a “pre-notice discussion”. The state regulator will decide if digital asset political donations in the state should be permitted or not.
The conversation is going to take place later this week.
“The proposed regulations and amendments are presented for discussion and direction by the Commission and will be presented for adoption at a subsequent meeting. The Commission will review and discuss potential sponsored and other legislation, The Commission will provide direction on future legislation to be sought by the agency.”
Four years ago the local supervisors banned giving and collecting cryptocurrency donations for political campaigns. The regulators said that it is difficult to track the emergence of these types of contributions, which compromises the transparency of one’s candidacy.
This potential ban lift was announced right after the California Governor signed an executive order. This lift might be a result of that order or it could be completely unrelated to that, however, it will be interesting to see the decision of officials after the meeting.
This September 2018 step of banning crypto donations for political parties inspired others to do the same too while some regulators did the exact opposite. However, firms are working relentlessly to make crypto donation legally available for political campaigns, like recently Crowdpac became the first platform leading federal donations via crowdfunding and it received a lot of positive response.
