Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
April 24, 2014

Virtual Currency Section 527 Organization Registers

The development of various forms of virtual currency is a growing topic from China to the United States, and some individuals have started a group to support political activities that promote competitive forms of currency.

Coin PAC registered yesterday with the Internal Revenue Service as a Section 527 political organization. The purpose of the group is to “support political activities that promote sound, diverse, and competitive forms of currency.”

Sean McGovern, of Elgin, Illinois, the group’s coordinator, said the group is small but they want to encourage discussion of all forms of virtual currency, not just Bitcoins. He anticipates the discussion will be most helpful at the federal level. McGovern said the group would like to help candidates who favor the use of various virtual currencies.

To search detailed money-in-politics databases, visit Political MoneyLine.

  • Rican bra

    I wasted 30 seconds of my life reading this that I will never get back…

  • Pebbles

    This should be interesting to follow.

  • bitmania

    This can fundamentally change how political campaigns are funded. Anonymous, virtual speech? http://www.coinpac.org

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