Although former US President Donald Trump did not want to consider Bitcoin as a currency during his time in office, his political party seems to have become much more pragmatic. For example, the National Republican Congressional Committee (NRCC) – , which includes the elected Republicans in the US Congress – has just decided to adopt Bitcoin and cryptocurrencies for campaign donations.
Financing a political campaign with BTC is possible
According to a report published by the media outlet Axios, a major Republican Party Committee (GOP) will now accept donations in cryptos, including bitcoin (BTC) and ethers (ETH). The NRCC, which is embarking on the campaign for the elections of the House of Representatives, wants to maximize its chances of recovering the majority from the hands of the Democrats… and this, by all means.
To do this, the organization will go through BitPay’s crypto-payments service. The latter allows you to receive cryptocurrencies and convert them directly into fiat currencies – in this case, the US dollar.
“NRCC is proud to be a pioneer in accepting campaign contributions in cryptocurrencies. We are exploring every possible avenue to advance our mission to stop Nancy Pelosi’s socialist agenda and regain the majority in the House of Representatives (House), and this innovative technology will help provide Republicans with the resources we need to succeed. “NRCC release
This direct-to-dollar conversion trick allows for individual donations of up to $10,000 per year, previously limited to $100 for unconverted cryptocurrency transfers. Not dumb, the elephant party!
It must be said that Tom Emmer, Minnesota representative and chairman of the NRCC, was among the politicians who called on the IRS (the US tax authorities) to be more flexible and moderate on the taxation of cryptocurrencies.
The advancement of Bitcoin and crypto asset adoption in all the little niches of the real economy may be slow, but it’s sure. The current NRCC decision, on the other hand, may not sit too well with Donald Trump, who expressed concern about Bitcoin’s competition with the US dollar just a dozen days ago.