Bitcoin / In the Headlines / Virtual Currency

Bitcoin OK for politics, with $100 limit

The Federal Election Commission on Thursday approved the use of the alternative currency Bitcoin for political contributions with limits of $100 per donor per election cycle.

The 6-member panel voted unanimously to allow the contributions, a move that could open the floodgates for donors to make political contributions with the digital currency in the upcoming midterm elections.

The decision means that political groups or candidates can accept Bitcoin if they abide by the same guidelines that the political group Make Your Laws set forth when it asked for the commission’s approval. Bitcoin political contributions would be clearly identified and limited.

Read the rest of this CNNMoney article here.