Louisiana bill proposes research on cryptocurrency campaign

A Louisiana bill calling for an investigation into the contributions of the cryptocurrency campaign was introduced earlier this week.

The Louisiana bill (HR 180) will task the Campaign Financial Disclosure Oversight Committee with reviewing “issues surrounding the acceptance of campaign contributions in the form of cryptocurrencies.” The current draft cites comments from the Federal Election Commission, in which the committee stated that it is possible to accept Bitcoin as a campaign contribution.

“There has been growing interest statewide in donating to cryptocurrencies campaigns,” the bill added.

The Louisiana bill follows another housing bill from the same sponsor, Rep. Mark Wright. That one would allow a candidate to receive campaign contributions in cryptocurrency. That bill was making its way through the state legislature and was referred to the Committee on House and Governmental Affairs.

Several other states have enacted policies aimed at researching or regulating cryptocurrencies. Virginia recently passed legislation allowing banks with state charters to provide cryptocurrency custody services, and a New Jersey bill would prevent officials from recognizing NFT as gifts.

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