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The Congressional Republican National Committee will accept cryptocurrency donations, making it the first national political party committee to do so, Axios reported on Wednesday, citing the committee.
The NRCC will use BitPay to process the contributions, which will be converted to US dollars before being deposited into the committee’s account, according to the Axios report. By not taking ownership of the cryptocurrencies, the NRCC can accept individual donations of up to $ 10,000 per year, thus avoiding the maximum value limit of $ 100 per year for cryptocurrency transfers.
“We are focused on pursuing every avenue possible to continue our mission to stop Nancy Pelosis’s socialist agenda and regain a majority in the House, and this innovative technology will help provide Republicans with the resources we need to succeed, “quoted Axios, NRCC chairman, Rep. Tom Emmer (R -Minn.) as said in a statement.
Emmer is co-chair of the Congressional Blockchain Caucus and a member of the House Financial Services Committee.
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