1. BITBILIHome
  2. Article

Another US presidential candidate to accept donations in BTC

• 136 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

  • Why central banks are struggling with wage growth

    TL;DR Breakdown Central banks worldwide are grappling with the challenge of wage growth. Mixed signals from price movements and economic activity are creating policy uncertainty. The Federal Reserve, Bank of England, and European Central Bank have made contrasting decisions recently, reflecting varied concerns and interpretations. Description In the turbulent landscape of economic management, wage growth is proving to be the thorn in the side of central banks worldwide. Three major banks, each holding immense sway over global financial health, recently made policy decisions that left many scratching their heads. The conflicting actions were a culmination of nuanced factors and challenges in … Read more In the turbulent landscape of economic management, wage growth is proving to be the thorn in the side of central banks worldwide. Three major banks, each holding immense sway over global financial health, recently made policy decisions that left many scratching their heads. The conflicting actions were a culmination of nuanced factors and challenges in interpreting the pulse of contemporary economies. A Tug-of-War Between Rates and Reality The Federal Reserve, for instance, kept its policy rate…

    Article 2023年9月26日

  • Coinbase unveils its global zero-trading subscription service ‘Coinbase One’

    TL;DR Breakdown Coinbase has expanded its zero-fee subscription service, Coinbase One, beyond the U.S. to include the U.K., Germany, and Ireland, with plans for further international expansion. The service, priced at $29.99 per month, offers customers zero trading fees, higher staking rewards, access to analytics, and 24/7 dedicated support, among other benefits. Despite its international growth and introduction of a global platform for crypto derivative trading, Coinbase reaffirms its commitment to the U.S. market. Cryptocurrency exchange titan, Coinbase, has taken its pioneering zero-fee subscription service, Coinbase One, from beta testing to global expansion. First launched as a US exclusive in 2021, Coinbase One has now spread its wings, reaching across the Atlantic to customers in the United Kingdom, Germany, and Ireland. 2/ The best of Coinbase just got ✨better✨ Unlock zero trading fees, a dedicated support team, boosted staking rewards, and exclusive benefits from partners with Coinbase One — all for $29.99/month. Claim your 30-day free trial → https://t.co/agCecP7lsp — Coinbase 🛡️ (@coinbase) May 18, 2023 For a relatively modest fee of $29.99 per month, customers can now enjoy the…

    Article 2023年5月19日

  • Congressman Torres takes aim at SEC’s crypto oversight, calls for investigation

    TL;DR Breakdown New York’s Congressman Ritchie Torres has called for an investigation into the SEC for its “haphazard and heavy-handed approach to digital assets.” Torress calls into question the politics behind the registration process approval for Prometheum, a special-purpose broker-dealer license. The Congressman asks SEC Inspector General Deborah Jeffrey to look into the  “unusual backroom deal” that resulted in Prometheum being awarded a power that no other crypto exchange has yet obtained.  6 Republican senators sent a letter to the DoJ and the SEC, asking the agencies to look into Prometheum’s alleged ties with China. Description According to two letters made public on Thursday, Congressman Ritchie Torres has asked for two separate independent investigations into the United States Securities and Exchange Commission (SEC) for its “haphazard and heavy-handed approach to digital assets.” The representative accuses Gensler of “politicizing” the registration process by approving Prometheum’s special purpose broker-dealer license. New York Congressman … Read more According to two letters made public on Thursday, Congressman Ritchie Torres has asked for two separate independent investigations into the United States Securities and Exchange Commission…

    Article 2023年7月14日

  • Aave Governance Votes to Optimize Ether Holdings and Expand DeFi Partnerships

    TL;DR Breakdown Aave DAO unanimously approves the migration of 1,600 ETH into wstETH and rETH, aiming to put idle assets to work and generate additional yield. The conversion of ETH holdings into wstETH and rETH is part of a decentralized protocol a larger plan to deploy the Ethereum Collector Contract and actively earn a yield on existing funds Description In a recent development, Aave’s vibrant community governance has made significant strides toward optimizing the protocol’s Ether (ETH) holdings. By converting 1,600 ETH (equivalent to approximately $3 million) into wstETH and rETH, Aave aims to put its idle assets to work and maximize the value for its participants. With unanimous approval from the community, this … Read more In a recent development, Aave’s vibrant community governance has made significant strides toward optimizing the protocol’s Ether (ETH) holdings. By converting 1,600 ETH (equivalent to approximately $3 million) into wstETH and rETH, Aave aims to put its idle assets to work and maximize the value for its participants. With unanimous approval from the community, this move represents another step towards the larger goal…

    Article 2023年7月10日

  • Gina Raimondo has a new approach to China-US relations

    TL;DR Breakdown US Commerce Secretary, Gina Raimondo, seeks a new era in China-US trade relations. Raimondo introduces a “commercial issues working group” as a revamped communication channel. Previous dialogue platforms between the US and China have lost momentum due to escalating tensions. Description US Commerce Secretary, Gina Raimondo, concludes her China visit with a distinct message: it’s time to reshape and enhance the trade dynamics between the two global giants. Amidst a backdrop of technology and trade conflicts, Raimondo is spearheading an effort to foster a more cooperative relationship, emphasizing the significance and impact of such a partnership … Read more US Commerce Secretary, Gina Raimondo, concludes her China visit with a distinct message: it’s time to reshape and enhance the trade dynamics between the two global giants. Amidst a backdrop of technology and trade conflicts, Raimondo is spearheading an effort to foster a more cooperative relationship, emphasizing the significance and impact of such a partnership on the world stage. But is her approach anything but the same old song and dance? A Fresh Start or Just Another Attempt? Raimondo’s…

    Article 2023年8月31日
TOP