- A Louisiana bill is bringing forward a proposal to study the Crypto Campaign Contributions.
- There has been a higher interest all across the state in donating to campaigns utilizing digital assets, highlights the Bill.
- Many States have been putting forward bills and policies that revolve around studying and regulating digital assets.
Cryptocurrencies On Radar For Several States
Earlier in the week, a Louisiana house bill was introduced, which calls for the analysis of crypto campaign contributions.
The text signifies that the Bill, HR 180, would assign the Supervisory Committee on Campaign Finance Disclosure to take care of problems revolving around the acceptance of campaign contributions in the cryptocurrency form.
The current draft highlights an opinion from the Federal Election Commission that affirm that a committee might accept Bitcoin (BTC) as a campaign donation but needs to report it as an in-kind contribution.
According to the Bill, there has been a higher interest all across the state in donating to campaigns utilizing digital assets.
This HR 180 bill comes following a separate House Bill from Representative Mark Wright, the same sponsor. It would facilitate a candidate to accept campaign contributions via digital assets.
And the Bill is proceeding via the state legislature, and earlier in March, it was referred to the Committee on House and Governmental Affairs.
Meanwhile, various other states have implemented policies focused on studying or cryptocurrency regulations. Very recently, Virginia passed a law that enabled the state-chartered banks to provide crypto custody services.
Furthermore, a New Jersey bill would preclude public officials from accepting Non-Fungible Tokens (NFTs) as gifts. At the same time, a Colorado bill brought forward the study of security tokens for raising state capital and is currently awaiting the signature from Gov. Jared Polis.
There has been worldwide skepticism over cryptocurrencies since their existence. And various states and countries have always tried to make it a legal tender, like El Salvador, which has even succeeded in this agenda. Mexico is still trying, whereas some are still vehement critics of digital assets. Let us see how they evolve in the coming years.
Source: https://www.thecoinrepublic.com/2022/05/28/louisiana-bill-puts-forward-study-on-crypto-campaign-donations/