Colorado Candidates May Soon Accept Campaign Contributions In Crypto

Politicians in Colorado may be next in line to accept cryptocurrency to aid their campaigns.

On May 16, the Denver Post reported that candidates for state office in Colorado might soon be allowed to accept cryptocurrency as campaign contributions.

Secretary of State Wayne Williams presented the proposal in a working draft of proposed rules governing campaign finance to candidates and committees.

Among other rules, the proposal stipulates: “A committee may accept contributions in cryptocurrency, up to the acceptable limit for a cash or coin contribution. The amount of the contribution is the value of the cryptocurrency at the time of the contribution. The committee must report any gain or loss after the contribution as other income.”

Colorado is not the first state to consider allowing campaign contributions to be made in cryptocurrency.

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