Governments and regulators around the world are creating updated frameworks to govern and regulate digital currencies and their impact in specific sectors. California’s Fair Political Practices Commission is the latest regulator to take such a step.
Crypto In Politics
The FPPC recognizes cryptocurrencies’ role in the political sphere, especially regarding campaign donations. The FPPC will be discussing the updated campaign disclosure manuals at its meeting in August, which includes cryptocurrency contributions.
In a move reiterating the agency’s commitment to transparent campaign financing, these updated guidelines provide a more comprehensive framework for political candidates and committees in California on how to receive and deal with crypto donations.
As contained in Chapter 4 of the manual, which covers “contributions,” cryptocurrencies fall under non-monetary items. The manual stipulates that digital currencies cannot be used by politicians or political groups to circumvent the limit.
In order to promote transparency, the committees have…
