Patrick Nelson, a candidate who will opt for the 21st congressional district of New York, announced that he will accept bitcoins donations through Bitpay to fund his election campaign.
Adept to the ideals of Bernie Sanders – pre-candidate of the Democratic Party for the presidential elections of 2016 and ex- member of the state legislature of New York, Nelson is constructing a campaign of progressive reforms facing the next electoral cycle of 2018. As established In a Timesunion article:
“The candidate proposes to end federal subsidies for fossil fuels – there are four: oil, coal, natural gas, and liquefied petroleum gas – with the aim of injecting the money into other budget sections … Specifically, Nelson wants to focus on generation Of solar energy and in the Microgrids – grouping of electrical sources that can be disconnected and operate autonomously, according to the physical and economic conditions.
Notably, Nelson had already accepted donations in bitcoins for an earlier campaign, since in 2015 he ran for a seat on the Stillwater Council, but in the end, he failed to do so. On his upcoming campaign and acceptance of donations at BTC, the politician commented:
“Our goal in this campaign is to bring innovative 21st-century policies to New York’s 21st District, which means we embrace innovation and new technologies … Bitcoin and the block chain are magnificent examples.”
It is important to emphasize that politicians like Nelson accept donations in bitcoins because the government allowed them. And the Federal Elections Commission (FEC) gave the approval for candidates to accept crypto coins in 2014, and according to the rules each donor has a limit of $ 100 … Once the candidate accepts the money, he has 10 days to Sell Bitcoin and add profits to your campaign fund. An official document states the following:
“The Commission states that candidates can acquire bitcoins for the purposes of investing in their campaigns, but they are not allowed to use them for other purposes … According to the regulation, the money must be transferred to the campaign funds or, in any case, be returned To taxpayers. “
Nelson is also not the first candidate to accept contributions in BTC. In fact, the trend was popularized thanks to Rand Paul, member of the Republican Party, who gave the green light to these contributions during the 2016 presidential campaign.