The World is Changing.
Recently, Patrick Nelson announced that he will be accepting Bitcoin donations for his candidacy as congressman for New York's 21st Congressional District.
Patrick Nelson is a former New York State Legislature staffer.
Not sure if this announcement is because he truly believes that it is the way of the future or if he is just trying to hitch his wagon on the immense popularity it is experiencing right now.
Either way, it was probably a brilliant idea.
Now he will be known as the forward looking candidate in people's minds.
Specifically Nelson had this to say regarding his reasoning behind the decision:
"Our goal in this campaign has been and continues to be bringing 21st century policies to the 21st District. That means we embrace innovation and new technologies like the Blockchain and Bitcoin."
Some details on Nelson...
Patrick Nelson is a graduate of Rensselaer Polytechnic Institute and a former staffer for New York Democratic Assemblyman Phil Steck of Colonie.
He was a strong supporter of Bernie Sanders during his presidential campaign in 2016.
Nelson will be running against Tedra Cobb and Emily Martz for the Democratic Nomination for Congress in 2018.
Bitcoin's classification?
The FEC announced the approval of Bitcoin donations and labeled them as in-kind donations. Which means as an in-kind donation, campaigns have 10 days from the receipt of Bitcoins until they have to be put into the official campaign depository.
However, currently the FEC is debating whether they should change that classification of Bitcoin, which was reached in mid 2016.
The FEC is currently contemplating if they should treat Bitcoin donations the same as cash going forward.
Bitcoin = Cash?!
You don't say...
The fact that they are even having that discussion is great news for Bitcoin owners and shows just how far we have come in just one year in terms of adoption.
The world is changing indeed.
Stay informed my friends.
Sources:
https://cointelegraph.com/news/pro-bitcoin-us-congressional-candidate-starts-accepting-bitcoin-donations-for-2018
Image Sources:
https://www.coindesk.com/congressional-candidate-now-accepting-bitcoin-donations-2018-election/
