FEC Deadlocks Over Whether To Let PAC Accept Bitcoins

Law360, Los Angeles (November 21, 2013, 6:52 PM EST) -- The Federal Election Commission deadlocked in a 3-3 vote Thursday over whether political action committee Conservative Action Fund should be allowed to accept bitcoins, with dissenting commissioners questioning whether the cybermoney qualifies as actual currency.

Though Republican-appointed commissioners said bitcoins aren't different from other types of in-kind contributions that political action committees can give and receive, Democrat-appointed commissioners raised concerns over whether anonymous individuals — including foreign entities — could make donations using bitcoins.

The CAF had asked the commission to approve its draft of an...
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