California Allows Crypto Donations to Politicians Again
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July 25, 2022

The California Fair Political Practices Commission has just lifted the ban on accepting donations of digital assets by politicians that had been in place for 4 years.

The updated regulation, which received a unanimous positive vote, involves transactions through a US-based third-party payment processor.

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The latter must register with the Financial Crimes Enforcement Network and implement a KYC procedure. In addition, it should be noted that all receipts must be immediately converted to US dollars and transferred to a bank account.

During the second quarter of the year, leaders of crypto companies and venture funds actively donated to the election campaigns of US Senators Cynthia Lummis and Kirsten Gillibrand.

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