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US Congressman Darren Soto to Accept Cryptocurrency Donations for 2020 Election

Supporters can now send the congressman crypto donations via BitPay for his 2020 reelection campaign.

Sep 10, 2020 at 4:50 p.m. UTC
Updated Sep 14, 2021 at 9:54 a.m. UTC

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.

DISCLOSURE

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.

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