The GOP will accept crypto contributions through BitPay, allowing them to convert assets like Bitcoin and Ether into U.S. dollars.

The National Republican Congressional Committee, or NRCC, announced Thursday that it will begin accepting campaign donations in cryptocurrency as a part of a broader effort to retake the House and stop Democrats from pursuing their policy agenda. 

“The NRCC is proud to lead the charge in accepting cryptocurrency campaign contributions,” chairman Tom Emmerson said in a statement, adding:

We are focused on pursuing every avenue possible to further our mission of stopping Nancy Pelosi’s socialist agenda and retaking the House majority, and this innovative technology will help provide Republicans the resources we need to succeed.

The GOP will accept payments in Bitcoin (BTC) and other cryptocurrencies through BitPay, a leading digital payment processor. Cryptocurrencies received through BitPay can be liquidated immediately for dollars.

While cryptocurrency has received some support from Republican lawmakers, such as Cynthia Lummis and Kevin McCarthy, the party's recent history has been largely hostile toward digital assets. While in office, former President Donald Trump told his Treasury secretary to “go after Bitcoin.” The outgoing administration delivered a parting shot to the crypto industry in late 2020 by supporting harsher regulations on self-custodied wallets.

On the opposite side of the Republican spectrum, Libertarian Rand Paul, a senator from Kentucky, began accepting Bitcoin payments in 2015.

Many U.S. Democrats have also adopted negative views toward cryptocurrency, with Sen. Elizabeth Warren calling assets like Bitcoin “bogus digital private money.”

Nevertheless, Democrats recently announced that they were forming a new task force dedicated to cryptocurrency. Rep. Maxine Waters, who serves as chairwoman of the House Financial Services Committee, said the group will “engage with regulators and experts to do a deep dive on this poorly understood and minimally regulated industry.”

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Dogecoin Price Forecast: DOGE to retest critical support before overcoming doubt

Dogecoin price has formed an uptrend since July 21, breaking out from a downward trapped DOGE for nearly a month. The canine-themed cryptocurrency rec

More Dogecoin News

Chainlink VRF integration improves as LINK price eyes 30% upswing

Chainlink price has seen an impressive run-up over the past week, but it has been able to breach through a crucial supply barrier. The recent pullback stems from an inability to slice through the said resistance zone.

More Chainlink News

Goldman Sachs files for new DeFi ETF with SEC that tracks only major stocks

Goldman Sachs has filed an application with the United States Securities & Exchange Commission (SEC) for a new decentralized finance and blockchain-based exchange-traded fund (ETF). 

More Cryptocurrencies News

Zilliqa to Ethereum bridge delayed but ZIL price eyes retest of $0.086

Zilliqa price is currently approaching a crucial support level that could trigger a bounce, leading to a new uptrend. However, there are chances of this barrier failing under increased selling pressure. Therefore, investors need to keep a close eye on the bounce.

More Zilliqa News

BEST CRYPTO BROKERS/EXCHANGES



Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP