US House Republicans becomes first national party to receive donations in crypto

The US’ NRCC (National Republican Congressional Committee), the United States House Republicans’ campaign arm told it will be receiving donations in digital currency.

The organization told it would be the first national party committee to accept donations via virtual currency like Bitcoin, which it told would aid it to support Republican candidates in midterm elections that will be held next year.

Tom Emmer, Chairman of NRCC told that they are concentrated on following every possible direction to facilitate their mission and retaking the House majority. He added that this innovative tech will aid provide Republicans the resources they need to achieve success.

Michael McAdams, NRCC spokesman said that the crypto-donations will be transformed into US Dollars before they reach the committee’s account. Reportedly, the organization has joined hands with Bitpay which offers crypto and Bitcoin payment services.

He added that NRCC would “accept all the same personal relevant info that they do with any other contribution up to the normal contribution limits”. The Federal Election Committee in 2014 approved a $100 value for transfers of actual crypto.

Some US political candidates, including former presidential aspirant Andrew Yang and Emer, have previously accepted donations via digital currency.

Meanwhile, the US Security and Exchange Commission (SEC) has displayed an unwillingness to accept crypto because many investment companies are pursuing a Bitcoin Exchange Traded Fund (ETF). Gary Gensler, the newly appointed SEC Chief pointed towards harder regulations for digital currency.

Author: Diksha Khiatani

A writer by day and a reader at night. Emerging from an Engineering background, Diksha is a travel freak and anxious to explore different cultures and religions. Inclined towards the off-beat places, she wishes to uncover the secrets on her Scooty (if possible). She always grabs some time to take a quick nap, listen to music, skating and eat a brownie.

Leave a Reply

Your email address will not be published.