The US National Republican Congressional Committee (NRCC) will reportedly start accepting cryptocurrency donations via major crypto payments provider BitPay – as a response to the speaker of the US House of Representatives Nancy Pelosi’s “socialist agenda.”
NRCC is the Republican Hill committee that works to elect Republicans to the United States House of Representatives. According to Axios, citing NRCC, this campaign arm will process the donations using BitPay.
The donations will be converted into USD immediately, and before landing in the NRCC’s account, meaning that the committee will not at any point actually be in possession of any crypto.
This, per the report, allows it to accept individual donations of up to USD 10,000 per year, versus the USD 100 maximum value for transfers of actual cryptocurrency like bitcoin (BTC). Therefore, “the NRCC isn’t actually receiving crypto, it’s just soliciting proceeds from their sales.”
This also makes NRCC the first US national party committee to solicit crypto donations, in a move that could possibly test campaign finance rules.
“We are focused on pursuing every avenue possible to further our mission of stopping Nancy Pelosi’s socialist agenda and retaking the House majority, and this innovative technology will help provide Republicans the resources we need to succeed,” Representative Tom Emmer, the NRCC chairman, was quoted as saying.
Many Cryptoverse residents wondered why supported currencies weren’t mentioned, or why bitcoin wasn’t named specifically – arguing that the right-wing politicians may be aiming for some loopholes and/or privacy coins.
Notice how they said crypto and not Bitcoin. Transparency (or lack thereof) is key. Dirty, dirty, dirty.
— Anthony Westrup🦒 (@WestrupA) June 17, 2021
Meanwhile, some, like Tim Swanson, head of market intelligence at blockchain builder Clearmatics, wrote that “hopefully the rest of the coin universe won’t become partisan but maybe that’s just wishful thinking.”
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Source: Cryptonews
