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Bitcoin now legal tender for political contributions

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The United States Federal Election Commission voted unanimously to allow donations to be made to political campaigns and political action committees in the form of bitcoin. Shortly following the ruling, bitcoin payment site Coinbase.com announced that it had already processed $1,000 worth of bitcoin donations (equivalent to about 2.25 bitcoins) on behalf of Congressman Jared Polis’ re-election campaign.

The FEC's ruling stipulates a number of restrictions, including the the amount is limited to "up to a total of $100 in bitcoins as contributions," and that the contributor "will have to provide his or her name, physical address, occupation, and employer." In addition, each bitcoin contributor is required to affirm that he or she owns the bitcoins and that he or she "is not a foreign national."

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