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

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

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

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

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

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

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

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

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