The United States' NRCC plans to embrace Crypto contributions to fund its political campaigns

The United States’ NRCC plans to embrace Crypto contributions to fund its political campaigns

The National Republican Congressional Committee (NRCC) of the United States, a division of the Republican Party that takes care of its electoral activities, is initiating crypto contributions as a support to their political pursuit. The committee noted that the entire information from those that contribute to supporting this project with cryptocurrency will be compiled and recorded.

In yesterday’s tweet, the committee stated that they will start to accept online contributions with digital currencies to fund its election rallies. Based on yesterday’s broadcast by a news agency, Axios, the electoral body is going to process the cryptocurrency contributions using BitPay, a well-known payment protocol, from which the contributions will instantly be transformed to the United States currency, dollars.

This conversion from cryptocurrency to dollar implies that the committee can accommodate personal contributions of about ten thousand dollars for each year, which is far greater than the hundred dollars that is the acceptable maximum for transfers of digital currencies.

Tom Emmer, the committee head and Minnesota Representative, noted that embracing crypto contributions is one of the ways the Republicans seek all the available means to become successful in elections. He noted that digital currency fundraising will help them amass the needed resources to emerge victoriously.

Tom has always been a well-known advocate for cryptos in Congress. In 2020, he began receiving contributions through BitPay for his election rally. Previously, in May, he brought back a bill with the objective of not allowing the Internal Revenue Service to enforce punishment or sanction those who pay tax on crypto with split assets.


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