Louisiana committee on house and governmental affairs will on Tuesday sit to discuss a bill
Proposing deep study into cryptocurrency donations for political campaigns. The bill which was submitted last week tasked the Supervisory Committee on Campaign Finance Disclosure with looking into issues surrounding the acceptance of campaign contributions in the form of crypto.
The new Louisiana bill simply calls for the acceptance of cryptocurrency donations for political campaigns and addresses the role cryptocurrency should play in funding political campaigns.The Louisiana bill stated explicitly that while cryptocurrency donations should be recognized and accepted, they should be considered a goodwill donation in any case.
Recognizing cryptocurrency as a store of value in this way adds to the growing interests of American politicians in bitcoin and cryptocurrency. Cryptocurrency could be gradually making its way into the American system.
Prior to this development, crypto-rich figures have bankrolled American politicians recently with FTX’s founder Sam Bankman Fried being a major sponsor of a number of american political movements. Sam has in a seperate news stated his intentions to finance the coming elections heavily in an effort to block the re-election of former United states president Donald Trump.
When Satoshi released the whitepaper for his ‘peer to peer electronic cash’, (he) envisioned a virtual cash which would allow online payments to be sent directly from one party to another without going through a financial institution. With his complicated cryptographic breakthrough, he hoped to revolutionize the economy or at least, the financial system.
Since then, bitcoin has spread like wildfire and has grown in popularity and has garnered interest from developers and finance enthusiasts. Apart from a brilliant peer-to-peer exchange technology, bitcoin’s economy was also argued to score above the current global economy; an idea central institutions have sternly argued against. As modern politicians flock around bitcoin and cryptocurrency, these developments could get interesting.