Donation can be taken in cryptocurrency for the election campaign in California, USA

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The US state of California will soon allow candidates to receive donations in cryptocurrency for campaigning for elections.

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The Fair Political Practices Commission has approved new rules allowing donations in cryptocurrencies such as bitcoin.

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The rules state that candidates can take donations in cryptocurrencies if they convert it into dollars immediately.

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Candidates will have to use a registered cryptocurrency processor for such transactions.

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Which will collect the name, address, occupation and information of the employer of the donor.

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The new rules will be implemented in California in 60 days.

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Earlier, California was one of the nine US states that banned donations in cryptocurrencies.

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However, 12 states, including Washington, have allowed donations to be accepted in cryptocurrencies.

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