At a time when US elections are heating up with crypto campaign donations, Republican Senator Marsha Blackburn has become the latest to accept all forms of digital currency donations. She has recently launching a page for bitcoin contributions.
In a Tweet on Tuesday, the lawmaker said that her re-election campaign “is committed to meeting supporters where they are.”
“As a growing number of Americans utilize digital currencies for everyday transactions, we are excited to begin accepting crypto donations!”
Our campaign is committed to meeting supporters where they are.
As a growing number of Americans utilize digital currencies for everyday transactions, we are excited to begin accepting crypto donations!https://t.co/obmNCIgBus
— Marsha Blackburn (@VoteMarsha) July 9, 2024
Rep. Blackburn, on Tuesday, chaired the RNC Platform Committee and passed a 2024 platform, an official release read. This year plans include commitment to defend the right to mine Bitcoin and protect the self-custody of digital assets.
According to the Senator’s crypto donations page, Blackburn’s campaign accepts tokens such as Bitcoin, Ethereum, Dogecoin, Litecoin, among others. Digital assets payment service provider, BitPay processes the crypto payments.
Growing Acceptance of Crypto Donations in Politics
The Senator’s embrace of crypto donations aligns with the recent trend of Bitcoin adoption among US politicians.
Republican presidential hopeful Donald Trump, who openly supports cryptocurrencies, began accepting Bitcoin donations for election campaign, in May. The former US President the Coinbase Commerce product to process all crypto donations.
Besides, Trump also promised to build a “crypto army” and is now setting his sights on becoming the “crypto president.”
The hot new trend for crypto donations this election season is probably to show their support toward the asset class. Even though crypto donations and regulations are changing, these contributions offer privacy benefits.
In an interview with Cryptonews, Jared Grey, CEO at Sushi Labs explained that these donations will help politicians reach a wide range of voter group.
“By accepting cryptocurrencies for fundraising, politicians understand this innovative technology’s impact on the future of payments.”
Additionally, donors might skip paying capital gains tax on Bitcoin when donating directly in crypto. Tax would apply only if they sold the crypto first and then donated the proceeds.
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