1. BITBILIHome
  2. Article

Another US presidential candidate to accept donations in BTC

• 161 views

TL;DR Breakdown

  • US presidential candidate Vivek Ramaswamy has said that he will accept donations in Bitcoin.
  • Ramaswamy will leverage crypto platform Bitpay to collect the funds.

In a groundbreaking move, Vivek Ramaswamy has become the second US presidential candidate to officially accept Bitcoin donations for the upcoming 2024 elections. Just two days after Robert F. Kennedy Jr. made history as the first candidate to accept campaign contributions in Bitcoin, Ramaswamy announced his decision to embrace cryptocurrency as a form of campaign funding. By doing so, Ramaswamy aims to make the 2024 election a referendum on fiat currency.

Another US presidential candidate favors BTC

During his announcement, Ramaswamy unveiled a QR code, which, when scanned, redirects users to a payment gateway supporting various payment options for donations, including Bitcoin (BTC) and its smallest denomination, Satoshi (sats). To facilitate Bitcoin donations, the US presidential candidate has chosen BitPay’s payment service, which also supports other cryptocurrencies such as Bitcoin Cash, Ethereum, ApeCoin, Litecoin, Dogecoin, and Shiba Inu.

In accordance with campaign finance regulations, eligible U.S. citizens and permanent residents are permitted to donate up to $6,600 to Ramaswamy’s campaign. However, it is important to note that these donations are not tax-deductible as charitable contributions for federal income tax purposes. As an added incentive, donors will receive a non-fungible token (NFT) upon completion of their donation. The donation page states that donors should return to claim their NFT after contributing.

Interestingly, in February, lawmakers in the Kansas House of Representatives proposed a bill suggesting a $100 cap on crypto political donations. The bill recommended that for donations below $100, the receiver must immediately convert the cryptocurrency into U.S. dollars and refrain from using it for expenditures or holding the funds as an investment (HODL).

Ramaswamy will collect funds through Bitpay

Ramaswamy’s decision to accept Bitcoin donations reflects the growing acceptance and integration of cryptocurrency into mainstream politics and finance. By leveraging BitPay’s payment service, Ramaswamy aims to provide a seamless experience for supporters who wish to contribute to his campaign using various cryptocurrencies.

With both US presidential candidates leading the charge, the acceptance of Bitcoin donations in the 2024 presidential campaign highlights the evolving landscape of political funding. As the race for the presidency intensifies, it remains to be seen how other candidates will respond to this new wave of digital campaign financing.

The move also signifies that the acceptance of Bitcoin donations for the 2024 presidential campaign signifies a significant milestone in the integration of cryptocurrency into mainstream politics. By embracing BitPay’s payment service and offering donors non-fungible tokens as incentives, Ramaswamy aims to make the upcoming election a platform for discussing the role of fiat currency.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Another US presidential candidate to accept donations in BTC

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年5月23日 06:17
Next 2023年5月23日 08:01

Related articles

  • Crypto traders bet on Asia as the US crackdown the market

    TL;DR Breakdown Asia is fast becoming the new center of gravity for crypto markets as the United States SEC moves to dismantle the DeFi market in the country.  Asian crypto markets shine despite the sanctions put by China and India – two countries with the largest populations in the region. The pivot toward Asia was underway even before the SEC under Chair Gary Gensler launched a wide-reaching clampdown in 2023. Description Amidst a backdrop of mounting regulatory scrutiny and a recent crackdown on crypto in the United States, Asia has emerged as a thriving hub for crypto traders seeking a haven for their digital assets. As the global crypto landscape undergoes significant shifts, regulatory clarity and growing adoption of digital currencies in countries across Asia have … Read more Amidst a backdrop of mounting regulatory scrutiny and a recent crackdown on crypto in the United States, Asia has emerged as a thriving hub for crypto traders seeking a haven for their digital assets. As the global crypto landscape undergoes significant shifts, regulatory clarity and growing adoption of digital currencies in…

    Article 2023年6月26日

  • Litecoin halving wraps up, adoption for payments surges

    TL;DR Breakdown Litecoin’s halving event concluded on August 2, halving block rewards to 6.25 LTC. Despite a recent price dip, Litecoin adoption as a payment method has surged. LTC now accounts for 35% of transactions on BitPay, overtaking Bitcoin. Description The much-anticipated Litecoin halving has concluded, slicing the block rewards in half to 6.25 LTC per block. The shift in supply dynamics marks a critical moment in the cryptocurrency’s lifecycle. At the same time, there has been a remarkable surge in the adoption of Litecoin as a preferred payment method. A compelling combination of scarcity … Read more The much-anticipated Litecoin halving has concluded, slicing the block rewards in half to 6.25 LTC per block. The shift in supply dynamics marks a critical moment in the cryptocurrency’s lifecycle. At the same time, there has been a remarkable surge in the adoption of Litecoin as a preferred payment method. A compelling combination of scarcity and practicality seems to be reshaping the landscape for this digital currency. Halving Event Creates New Landscape In the world of crypto, Litecoin’s recent halving event has…

    Article 2023年8月3日

  • Argentina officially launches its first bitcoin futures contract

    TL;DR Breakdown Argentina launches its first regulated bitcoin futures contract, providing qualified investors with exposure to cryptocurrency in a regulated manner. The contract is based on a bitcoin index powered by Matba Rofex, the Argentinian stock exchange, and was authorized by the National Securities Commission (CNV). The move aims to promote the development of innovative products within the regulated entities of the capital market and marks the CNV’s first approval of a crypto product. Description Argentina has officially introduced its first bitcoin futures contract based on a bitcoin index, providing qualified investors with regulated exposure to the cryptocurrency. It is important to know that the contract, published by Matba Rofex, the Argentinian stock exchange, received authorization from the country’s National Securities Commission (CNV) back in April. This marks the CNV’s … Read more Argentina has officially introduced its first bitcoin futures contract based on a bitcoin index, providing qualified investors with regulated exposure to the cryptocurrency. It is important to know that the contract, published by Matba Rofex, the Argentinian stock exchange, received authorization from the country’s National Securities Commission…

    Article 2023年7月14日

  • Nima Capital dumps SYN tokens, shakes DeFi trust foundations

    TL;DR Breakdown Nima Capital dumped over 9 million SYN tokens, causing a 20% drop in the token’s value. Etherscan records show a transfer of 10 million SYN tokens from Synapse. Nima Capital’s website went offline, and its social media account was closed, signaling a clear break from its commitment to Synapse. Description Nima Capital, a long-term financing partner of the Synapse cross-chain bridge, dumped over 9 million SYN tokens. The move sent the token’s value plummeting by 20%, hitting a multi-week low of $0.30. The firm also withdrew all stablecoin liquidity from the bridge. Later in the day, the token recovered slightly, settling above $0.35. Synapse X, … Read more Nima Capital, a long-term financing partner of the Synapse cross-chain bridge, dumped over 9 million SYN tokens. The move sent the token’s value plummeting by 20%, hitting a multi-week low of $0.30. The firm also withdrew all stablecoin liquidity from the bridge. Later in the day, the token recovered slightly, settling above $0.35. Synapse X, the official account of the project, confirmed the liquidity rug but clarified that the network…

    Article 2023年9月6日

  • What is the point of an European metaverse?

    TL;DR Breakdown The EU is pushing to create its own metaverse to challenge the dominion of American tech giants like Meta. The EU proposes eliminating “walled gardens” through shared standards to create a more democratic and inclusive virtual space. The EU seeks to support open-source projects and tech startups, stimulating the European tech ecosystem and promoting competition. Description In a world increasingly moving towards digital and virtual platforms, the significance of a European metaverse is steadily rising. But why? The answer lies in the continent’s quest to challenge the dominion of American tech giants and create a virtual space that offers more than just the whims of Silicon Valley. Breaking down the walled … Read more In a world increasingly moving towards digital and virtual platforms, the significance of a European metaverse is steadily rising. But why? The answer lies in the continent’s quest to challenge the dominion of American tech giants and create a virtual space that offers more than just the whims of Silicon Valley. Breaking down the walled gardens Brussels, the administrative heart of the European Union,…

    Article 2023年7月8日
TOP