Louisiana Lawmaker Introduces Bill That Proposes Study on Crypto Campaign Donations


A Louisianian lawmaker, Rep. Mark Wright has introduced a new bill regarding crypto use to the state’s legislative house. 

The bill proposes that a deliberate study should be carried out on the use of crypto as a currency for donations to campaign activities. 

Titled HR 180, the bill was introduced to the House earlier this week and would, if passed, give a new mandate to the Supervisory Committee on Campaign Finance Disclosure 

According to the draft, this will mandate the committee to carry out an in-depth analysis of issues surrounding the acceptance of campaign contributions in the form of crypto. 

A review of the draft indicated that the lawmaker cited an opinion from the Federal Election Commission. FEC states that a committee may accept Bitcoin as a campaign donation however the campaign must report it as an in-kind contribution.

“There has been an increased interest throughout the state in donating to campaigns using cryptocurrency,” the bill reads in part. 

The bill is currently scheduled to be reviewed and discussed by the Committee on House and Governmental Affairs next week Tuesday. 

Just recently, foremost crypto stakeholder, Sam Bankman-Fried also recently revealed that he could be willing to spend as much as $1 billion to prevent President Trump from returning to the office.

Another Louisiana Bill Targets Crypto

Meanwhile, this bill follows an earlier bill regarding crypto earlier proposed to the Louisiana House. 

The first bill, also proposed by Rep. Mark, is seeking to allow a candidate to receive campaign contributions in the form of cryptocurrency. 

As at the time of writing this report, the first bill is making its way through the state legislature.  Last month, the bill was referred to the Committee on House and Governmental Affairs.

Several states have also enacted policies aimed at studying or regulating cryptocurrencies. Virginia, for example, recently passed a law that enables state-chartered banks to offer crypto custodial services.