Jared Polis Will Take Your Bitcoins
Posted at 9:01 a.m. on May 9, 2014
The Federal Election Commission has voted to allow bitcoin contributions to political action committees, and it wasn’t long before Rep. Jared Polis announced he’d take those contributions for his re-election campaign.
“I am thrilled that the FEC has chosen to take a forward looking stance on digital currencies, recognizing the rights of individuals seeking alternatives to government backed currencies to participate in our democratic political process,” the Colorado Democrat said in a statement Thursday.
CQ Roll Call’s Eliza Newlin Carney writes that the commission’s vote “lends legitimacy to the virtual currency but leaves unclear how valuable or useful bitcoins will prove to be in elections.”
Polis isn’t the only politician accepting the digital currency. Carney writes:
Bitcoins have grown increasingly popular with political committees and candidates, most notably libertarians, who have forged ahead in collecting them even in the absence of approval or guidance from the FEC. Candidates and committees collecting bitcoins include Rep. Steve Stockman, R-Texas, who lost his primary challenge to Sen. John Cornyn in March, and the Livingston County Libertarians in Michigan.
Back in March, Polis sent what TechCrunch described as a “cheeky” call to ban the dollar bill in response to a call from Sen. Joe Manchin III, D-Va., for the digital currency to be prohibited over concerns about instability and use in illegal activity. Polis also bought $10 worth of the digital currency in April from a demonstration ATM that a company brought to Capitol Hill.