Georgian candidates accept donations from crypto campaign

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Do you know those extra bitcoins lying around? The ones you intended to donate to a political campaign? Well you are in luck!

What’s going on: At least two Georgia Republicans who run statewide are soliciting cryptocurrencies as campaign donations.

The big picture: These candidates are part of a bipartisan group of politicians across the country who accept digital currency.

Details: State Senator Burt Jones, the Trump-backed Republican and candidate for lieutenant governor, recently released a cryptocurrency payment portal after donors expressed interest.

He joins his fellow Republican Secretary of State candidate David Belle Isle, who claims to have launched the first portal in the spring, also after donor interest. He said it took them over six weeks to build.

Is it legal? According to David Emadi, executive director of the National Campaign Finance Commission, Georgian candidates can accept cryptocurrency if the donation is immediately converted to US dollars, to ensure that the value does not exceed legal limits.

The FEC, which regulates campaign finance for federal candidates, has issued guidelines on digital currency. It allows committees to keep donations in a “bitcoin wallet,” but they are still subject to federal contribution limits and reporting requirements.

Yes, but: Emadi said there is no rule that a donation from cryptocurrency must be identified as such when reported in dollars. This makes it difficult to know exactly how much bitcoin has fueled political coffers in Georgia.

Note: this is not new. Former Georgia Republican Representative Bob Barr was on the cutting edge of technology when he solicited bitcoin donations in 2014. He tells Axios it happened thanks to the guidance of his young staff.

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