Louisiana Bill Puts Forward Study On Crypto Campaign Donations
Rep. Mark Wright, a Louisiana congressman, has submitted a new measure to the state legislation governing the usage of cryptocurrency.
The measure asks that a thorough investigation of the usage of cryptocurrency as a form of payment for political contributions be conducted.
JUST IN: Louisiana has introduced a bill to study the issue of accepting #crypto donations in political campaigns.
— Watcher.Guru (@WatcherGuru) May 28, 2022
The measure, HR 180, was filed in the House earlier this week and, if enacted, would give the Supervisory Committee on Campaign Finance Disclosure a new mission.
According to the draft, the committee would be required to conduct an in-depth investigation of the concerns surrounding the receipt of crypto campaign donations.
According to a study of the text, the MP referenced a Federal Election Commission opinion. A committee may receive Bitcoin as a campaign donation, but the campaign must record it as an in-kind contribution, according to the FEC.
In part, the measure states, "There has been a surge in interest around the state in giving to campaigns utilizing cryptocurrencies."
The measure will be studied and considered by the Committee on House and Governmental Affairs on Tuesday of next week.
Sam Bankman-Fried, a leading cryptocurrency investor, has indicated that he may be prepared to pay up to $1 billion to prevent President Trump from regaining power.
Another bill in Louisiana is aimed against cryptocurrencies.
Meanwhile, this measure is a follow-up to a previous crypto-related bill that was introduced in the Louisiana House.
The first bill, also filed by Rep. Mark, would allow a candidate to accept cryptocurrencies as a kind of campaign contribution.
The first measure is now making its way through the state legislature as I write this article. The measure was forwarded to the House Committee on House and Governmental Affairs last month.
A number of states have also passed legislation to explore or regulate cryptocurrency. For example, Virginia has approved legislation allowing state-chartered banks to provide crypto custodial services.