Rep. Darren Soto (D-Fla.) – sponsor of a number of legislative proposals around blockchain technology – is accepting cryptocurrency donations for his reelection campaign.
- Soto made the announcement during the U.S. Blockchain Debate on Wednesday, hosted by Soto's campaign and the Chamber of Digital Commerce PAC.
- Donations will be processed by payments processor BitPay, with eight different cryptocurrency options supported for conversion into U.S. dollars.
- Those include bitcoin (BTC), bitcoin cash (BCH), ether (ETH), Gemini dollar (GUSD), USD Coin (USDC), Paxos standard (PAX), Binance USD (BUSD) and XRP.
- Soto has long been an advocate of blockchain technology, saying the government should support its use for business and consumers, according to a press release.
- Soto, who is also a co-chair of the Congressional Blockchain Caucus, said he was "excited" to host a crypto debate on the same day as a vote to pass parts of the Digital Taxonomy Act.
- The proposal was ultimately passed and added to the wider Consumer Safety Technology Act.
- This will now be debated in the House of Representatives.
- The blockchain portion of the act would require the Federal Trade Commission to submit a report and recommendations to Congress on unfair or deceptive acts relating to digital assets, Soto's spokesperson told CoinDesk.