Pro-Crypto PAC Giving $50 in Bitcoin to the Campaign of Each Member of Congress

In a bid to raise awareness, the Chamber of Digital Commerce’s PAC is contributing $50 in bitcoin to the campaign of incumbent members of Congress.

AccessTimeIconOct 5, 2020 at 10:00 a.m. UTC
Updated Sep 14, 2021 at 10:04 a.m. UTC

If your elected representative to the U.S. Congress has never heard of cryptocurrencies, how do you start telling him or her about it? Hoping to raise awareness, the blockchain advocacy group Chamber of Digital Commerce’s Political Action Committee (PAC) wants to start by contributing $50 worth of bitcoin to the campaign of those running for re-election. 

Announced Monday, the advocacy group said under its new “Crypto for Congress” initiative members of the House of Representatives and the Senate running for re-election would receive campaign contributions in bitcoin. 

According to the group’s founder, Perianne Boring, this is an attempt to raise awareness and give members of Congress a chance to interact with blockchain technology and digital assets. In addition to the contribution, the Chamber’s PAC will also provide online training and a toolkit to help the incumbents engage with cryptocurrencies. 

  • “One of the biggest challenges we've always had is people just really don't understand what the heck it is we're talking about,” said Boring. 
  • She added that letting Senate and House members interact with crypto assets through such an initiative could aid the group’s advocacy efforts for an industry that faces multiple public policy challenges such as taxation and regulatory jurisdiction.
  • According to the group, once informed about the contribution, the incumbent’s campaign can either accept it, pass it on to a charity that accepts bitcoin (BTC) or just opt out. 
  • “Crypto for Congress brings an opportunity for our entire Congressional community to join this generational shift in finance and technology,” said Rep. Tom Emmer (R-Minn.), chairman of the National Republican Congressional Committee (NRCC), in an emailed statement. Emmer is one of the most pro-crypto members of Congress.
  • Boring added the bitcoin being given away as contributions has been mined by U.S.-based tech partners Core Scientific and Luxor. “We're getting clean bitcoin that was mined here,” she said. 

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Voyager Seeks Bankruptcy Protection Amid Crypto Credit Crisis

The Toronto-based lender filed for Chapter 11 bankruptcy in New York late Tuesday.

CoinDesk - Unknown
2
CoinDesk - Unknown
Binance Resumes Local Currency Deposits with Brazilian Payment System Pix

Withdrawals should be resumed “shortly,” said the company, which had suspended that feature on June 17.

CoinDesk - Unknown
3
CoinDesk - Unknown
Celsius Repays $183M on DeFi Exchange Maker, Gets Back Collateral, Blockchain Data Shows

The troubled crypto lender paid down $183 million of its debt to the decentralized exchange Maker, blockchain data shows, possibly in a bid to recover bitcoin-linked collateral that otherwise would remain trapped.

CoinDesk - Unknown
4
CoinDesk - Unknown
First Mover Asia: Crypto Game Consoles Aren’t Needed as Web3 Gaming Has Workers, Not Gamers; Bitcoin Dips, Then Regains Its Perch Above $20K

Studios are raising significant amounts of capital, but they must build games that do a better job of engaging users; ether and most other major cryptos rise.

CoinDesk - Unknown