The Republican Party of Louisiana made history when it announced Wednesday that it has became the first major state political party in the United States to accept bitcoin donations.
“We are always looking for ways to reach and engage our supporters,”LAGOP Executive Director Jason Doré said. “For us, this is also about living out our party's principles. As a party, we embrace innovation, the free market and oppose inflationary monetary policy. All of these principles are embodied in bitcoin.”The Federal Election Commission issued an advisory opinion in May, opening the door for federal candidates and committees to begin accepting bitcoin donations. LAGOP worked with BitPolitic.com to develop a system for collecting donations that ensures compliance with all federal laws.
“BitPolitic is excited to bring the Republican Party of Louisiana into the bitcoin ecosystem with BitPay,” BitPolitic developer Grant Bourque said. “The Republican Party of Louisiana is the first major state party to accept bitcoin donations. They are leading the way in embracing innovation and the future of payment technology.”How does it work?
Donations made at LAGOP.com/bitcoin-donate are processed by a third-party organization that instantly converts the bitcoin payment into U.S. dollars that are then added to LAGOP bank account like any other donation. Regular federal reporting and donor information requirements are adhered to in the same way as traditional contributions.