Rand Paul will accept Bitcoin donations; are there legal issues?
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Kentucky Sen. Rand Paul has announced his presidential campaign will accept Bitcoin campaign donations, capped at $100, an option likely to appeal to young, technologically inclined voters.
But the virtual currency is “largely untraceable,” raising questions about whether they could mask illegal contributions, the New York Times reports.
Under federal law, individual candidates can’t accept contributions from foreigners, corporations or straw donors, the Times says. Candidates are expected to make their best efforts to ferret out illegal donations, and to identify donors who contribute more than $200 a year.
The story notes a Federal Election Commission decision last year allowing a political action committee to accept Bitcoin contributions of up to $100.
