• About
  • Landing Page
  • Buy JNews
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result

California Says Political Campaigns Can Settle for Crypto, However There’s A Caveat

SB Crypto Guru News by SB Crypto Guru News
August 13, 2023
in Bitcoin
0 0
0
California Says Political Campaigns Can Settle for Crypto, However There’s A Caveat


Because the world continues to adapt to the rising rise and mass adoption of crypto, governments and regulators worldwide are shifting to create up to date frameworks that govern and regulate the use and influence of digital currencies in sure sectors. Likewise, the California Truthful Political Practices Fee (FPPC) is the most recent to make such a transfer.

Crypto In Politics

The FPPC acknowledges cryptocurrencies’ function within the political sphere, particularly concerning marketing campaign donations. In order a part of its agenda for its August assembly, the company will focus on the up to date marketing campaign disclosure manuals, which now embrace cryptocurrency contributions.

In a transfer reiterating the company’s dedication to clear marketing campaign financing, these up to date pointers present a extra complete framework for political candidates and committees in California on obtain and cope with crypto donations. 

As contained in Chapter 4 of the guide, which covers “contributions,” cryptocurrencies fall below non-monetary gadgets. It stipulates that politicians or political committees can’t use cryptocurrencies to avoid the relevant restrict, as digital currencies are additionally topic to it.

As a part of efforts to make sure transparency, committees can’t obtain cryptocurrency donations immediately. As a substitute, they have to use a fee processor to facilitate such transactions. These funds should be US-based and registered with the US Division of Treasury and Monetary Crimes Enforcement Community and abide by the stringent know your buyer (KYC) protocols to make sure that the id of every crypto contributor is thought.

The fee processor should additionally gather the “identify, deal with, occupation, and employer of every contributor,” which should be transmitted to the committee inside 24 hours. 

To cope with the volatility of cryptocurrencies, the FPPC has stipulated that the crypto contributions should be instantly transformed to US {dollars} and funds deposited into the committee’s marketing campaign financial institution. 

Crypto total market cap chart from Tradingview.com

Whole market cap returns to $1.134 trillion | Supply: Crypto Whole Market Cap on Tradingview.com 

Significance Of This Transfer

As a substitute of banning crypto donations outrightly, it’s commendable that the FPPC has moved to place measures in place to make sure transparency and defend the integrity of the marketing campaign course of. 

These measures undoubtedly assist to clear doubts or considerations which many may need about crypto in politics, corresponding to crypto transactions being virtually untraceable or getting used to purchase favors from politicians, as was seen within the case of Sam Bankman-Fried (SBF), who many imagine made donations merely to have the federal government on his facet in case his illicit actions had been ever found.

Introducing KYC measures helps curb the misuse of those funds and even getting used for illicit actions. And the rules additionally stipulated that crypto contributions is probably not accepted “from overseas principals, lobbyists, or nameless sources,” in a transfer that protects politicians from the undue affect of those people. 

In the meantime, there are positives that the crypto neighborhood can take from this transfer. Politicians receiving crypto contributions is likely to be an eye-opener for them as to the optimistic impacts cryptocurrencies can have throughout a number of sectors.

Featured picture from Jing Tradition & Crypto, chart from Tradingview.com



Source link

Tags: AcceptBitcoin NewsCaliforniaCampaignsCaveatCryptoCrypto NewsCrypto UpdatesLatest News on CryptopoliticalSB Crypto Guru News
Previous Post

Big predictions for Chancer token

Next Post

Crypto YouTuber Michael Wrubel Opinions New Meme Token Shibie Coin – Subsequent Shiba Inu?

Next Post
Crypto YouTuber Michael Wrubel Opinions New Meme Token Shibie Coin – Subsequent Shiba Inu?

Crypto YouTuber Michael Wrubel Opinions New Meme Token Shibie Coin - Subsequent Shiba Inu?

  • Trending
  • Comments
  • Latest
Meta Pumps a Further  Million into Horizon Metaverse

Meta Pumps a Further $50 Million into Horizon Metaverse

February 24, 2025
The Metaverse is Coming Back! – According to Meta

The Metaverse is Coming Back! – According to Meta

February 7, 2025
How to Get Token Prices with an RPC Node – Moralis Web3

How to Get Token Prices with an RPC Node – Moralis Web3

September 3, 2024
AI & Immersive Learning: Accelerating Skill Development with AI and XR

AI & Immersive Learning: Accelerating Skill Development with AI and XR

June 4, 2025
NFT Rarity API – How to Get an NFT’s Rarity Ranking – Moralis Web3

NFT Rarity API – How to Get an NFT’s Rarity Ranking – Moralis Web3

September 6, 2024
Samsung Unveils ‘Moohan’ to Compete with Quest, Vision Pro

Samsung Unveils ‘Moohan’ to Compete with Quest, Vision Pro

January 29, 2025
M Buzz, Transfer Proposal Sparks Massive Community Shift

$80M Buzz, Transfer Proposal Sparks Massive Community Shift

0
DeFi Real World Assets Tokenizing Platform Ondo Finance Acquires SEC-Regulated Broker Dealer Oasis Pro

DeFi Real World Assets Tokenizing Platform Ondo Finance Acquires SEC-Regulated Broker Dealer Oasis Pro

0
Squeeze a Whole Business Book into Your Lunch Break

Squeeze a Whole Business Book into Your Lunch Break

0
Bitcoin Price Could Resume Uptrend If 5,000 Support Holds — Here’s How

Bitcoin Price Could Resume Uptrend If $105,000 Support Holds — Here’s How

0
Bitcoin Enters New Era: Derivatives Dominate As Futures Volume Hits 0 Trillion

Bitcoin Enters New Era: Derivatives Dominate As Futures Volume Hits $650 Trillion

0
Why Liquidity Matters More Than Ever For Bitcoin

Why Liquidity Matters More Than Ever For Bitcoin

0
Squeeze a Whole Business Book into Your Lunch Break

Squeeze a Whole Business Book into Your Lunch Break

July 5, 2025
Bitcoin Price Could Resume Uptrend If 5,000 Support Holds — Here’s How

Bitcoin Price Could Resume Uptrend If $105,000 Support Holds — Here’s How

July 5, 2025
Bitcoin Enters New Era: Derivatives Dominate As Futures Volume Hits 0 Trillion

Bitcoin Enters New Era: Derivatives Dominate As Futures Volume Hits $650 Trillion

July 5, 2025
Bitcoin Bullish MACD, Monthly Close Fuel Bullish Outlook

Bitcoin Bullish MACD, Monthly Close Fuel Bullish Outlook

July 5, 2025
M Buzz, Transfer Proposal Sparks Massive Community Shift

$80M Buzz, Transfer Proposal Sparks Massive Community Shift

July 5, 2025
Amber International Raises .5M to Boost 0M Crypto Reserve

Amber International Raises $25.5M to Boost $100M Crypto Reserve

July 5, 2025
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at SB Crypto Guru News.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.