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House Republicans begin accepting cryptocurrency donations

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The Nationwide Republican Congressional Committee, or NRCC, introduced Thursday that it’s going to begin accepting marketing campaign donations in cryptocurrency as part of a broader effort to retake the House and cease Democrats from pursuing their coverage agenda. 

“The NRCC is proud to lead the charge in accepting cryptocurrency campaign contributions,” chairman Tom Emmerson stated in a press release, including:

“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.”

The GOP will settle for funds in Bitcoin (BTC) and different cryptocurrencies by means of BitPay, a number one digital fee processor. Cryptocurrencies obtained by means of BitPay will be liquidated instantly for {dollars}.

Associated: Latin American telecom firm accepts crypto funds by means of BitPay

Whereas cryptocurrency has obtained some help from Republican lawmakers, similar to Cynthia Lummis and Kevin McCarthy, the social gathering’s latest historical past has been largely hostile towards digital property. Whereas in workplace, former President Donald Trump informed his Treasury secretary to “go after Bitcoin.” The outgoing administration delivered a parting shot to the crypto trade in late 2020 by supporting harsher laws on self-custodied wallets.

On the alternative aspect of the Republican spectrum, Libertarian Rand Paul, a senator from Kentucky, started accepting Bitcoin funds in 2015.

Many U.S. Democrats have additionally adopted detrimental views towards cryptocurrency, with Sen. Elizabeth Warren calling property like Bitcoin “bogus digital private money.”

However, Democrats not too long ago introduced that they had been forming a brand new job pressure devoted to cryptocurrency. Rep. Maxine Waters, who serves as chairwoman of the House Monetary Companies Committee, stated the group will “engage with regulators and experts to do a deep dive on this poorly understood and minimally regulated industry.”

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