Photo by Michelle Stocker, The Capital Times

The state Ethics Commission is taking public testimony today on whether to allow Wisconsin campaigns to accept cryptocurrencies such as Bitcoins.

In February, the chair of the Wisconsin Libertarian Party asked the commission for a public hearing and formal opinion on accepting cryptocurrencies. Chair Phil Anderson wrote in the request that the party and its campaigns has been offered donations in cryptocurrencies and sought advice on:

*how to calculate such donations toward campaign limits;

*what registration of cryptocurrency accounts is required;

*what information must be provided — such as donor address and profession — for accepting and disbursing campaign funds from cryptocurrencies.

Anderson recommended the commission consider a couple approaches to such donations. That includes requiring campaigns to report a cryptocurrency donations as its cash value when it’s received. But campaigns would be allowed to hold onto the cryptocurrency as its value fluctuates. Another approach would be to require campaigns to immediately convert the cryptocurrency donation to dollars and then deposit it.

The commission is expected to deliberate in closed session on the suggestion, and it is unclear when it may issue an opinion.

See the agenda:
https://ethics.wi.gov/Pages/Meeting_20180424.aspx

Print Friendly, PDF & Email