The Wisconsin Government Accountability Board (GAB) doesn’t have any plans to allow donations to political campaigns using bitcoin or any other digital currency, the organization told PFHub on Wednesday.
We reported Tuesday of how the Milwaukee Business Journal discovered that the GAB is waiting to make a final decision on bitcoin funding because it still remains uncertain as to what the federal election campaign rules will be and what regulations the government is implementing, if any.
Reid Magney, public information officer for the GAB, issued a statement to PFHub explaining that it is not taking any action in regards to the use of bitcoin for campaign contributions in the Badger State.
“State statutes (11.16 (2)) require any campaign contribution of more than $50 to be made by a ‘negotiable instrument or evidenced by an itemized credit card receipt bearing on the face the name of the remitter.’ The G.A.B. has interpreted this to also include electronic funds transfer,” Magney said.
The Board official added that members of the GAB staff have recommended the state to continue further research into bitcoin, but the Board has yet to authorize any additional study.
“Board Members expressed concern about many aspects of permitting bitcoin for campaign contributions, including that it has a fluctuating value and is not a negotiable instrument.”
We have noted that several political candidates in the U.S. have started to accept bitcoin contributions, including presidential candidate Darryl W. Perry; Texas Republican Congressman Steve Stockman; Eric Brakey, a Republican State Senate candidate; and Blaine Richardson, an independent conservative congressional candidate.
This is an update to our initial story “Wisconsin election board may start accepting bitcoin donations soon.”
