Reading time: ~1 m
A Louisiana MP has introduced a bill to allow politicians and their associations to accept donations in digital currencies.
The bill was submitted to the state House of Representatives on February 25, at the regular session on March 14 it is going to be considered in the first reading. The initiative was put forward by House member Mark Wright. The main idea is to allow candidates, officials and political parties to legally use cryptocurrencies.
The bill will allow to recognize cryptocurrency donations as a contribution in kind, that is, a good or service that is not money.
Each recipient will be required to provide a full account of donations received. Also, according to the initiative, before using donations, digital assets will need to be exchanged for fiat money.
If the House of Representatives approves the bill, it will have to be approved by the Louisiana Senate.
Recall that in the United States at the federal level, cryptocurrencies are not recognized as legal tender.
#Louisiana #proposes #cryptocurrency #donations #political #organizations
