Republican Senate Candidate Received Bitcoin Donation

Missouri Republican candidate, Austin Petersen received Bitcoin donation valued at $4,500 in his campaign for Senate
09 February 2018   788

According to the Federal Election Commission, this donation is officially the largest single Bitcoin donation ever accepted by a US politician. Austin Petersen received a donation worth 0.284 of a Bitcoin – which at the time of exchange was valued at $4,500 in US dollars. However, this Bitcoin donation represented less than 3 percent of Austin Petersen’s overall campaign donation total. The dollar, therefore, still reigns supreme in the context of party political contributions.

This case is very important and opens the debate about cryptocurrencies and political donations.

Austin Petersen’ representative stated that there will be more campaign contributions and financing of this type. Austin Petersen is a big fan of competition in the marketplace, even when it comes to US dollar. That is why it was an easy decision to use that cryptocurrency.

This case made Bitcoin a new means of increasing campaign contributions through alternative digital currency donations. However, this huge Bitcoin donation wasn’t the first campaign contribution. For example, Rand Paul, during his 2016 Presidential Campaign, accepted Bitcoin. Other congressional and Senate campaigns have also accepted Bitcoin. Jared Polis in 2014 was the first congressional campaign to accept Bitcoin.

It seems that lawmakers now are happy to accept non-government backed cryptocurrencies to help improve campaign contribution. Due to the fact that more people become crypto wealthy, this new cluster of wealth could become a well of possible future political donations for all political parties.

SEC to Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   134

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.