Libertarian candidate accepts only Bitcoin and precious metals
Here’s an interesting topic of discussion with regard to campaign finance laws. Darryl W. Perry, a candidate vying for the Libertarian Party 2016 nomination, has decided to only accept Bitcoin, Litecoin, and precious metals as campaign donations. If you’re unfamiliar with the digital currency known as Bitcoin, see this Wikipedia entry for some background.
Report from IVN:
Darryl W. Perry, who hopes to succeed Governor Gary Johnson as the party’s national torchbearer, recently determined his campaign will shun “real world” currencies and solely accept their digital alternatives. He also announced such donations will not be reported to the FEC, and declared as much in a letter sent to the commission. Though the decision not to accept “traditional” money is incredibly unconventional and will likely spark intense controversy, Perry believes he is merely practicing what radical libertarians preach by avoiding contact with the government.
“I am attempting to put into practice a belief that I hold that we should get rid of the Federal Reserve, which is a central bank,” Perry explained. “And unlike some who want to get rid of the Fed, I don’t want the government stepping in to fill the void.”
The Federal Election Commission (FEC) has been wrestling with this new technology since it is not traceable the way a credit card donation is.
I’m not sure this will be a factor in 2016 but it certainly will moving forward. As citizens seek alternate currencies and technology progresses, always outpacing government, there will be regulatory movement on how to govern these types of donations.