Key Points
- Former US President Donald Trump’s campaign now accepts donations in Bitcoin, Ethereum, and other cryptocurrencies.
- The move is part of the campaign’s commitment to support the crypto industry and complies with Federal Election Commission regulations.
Donald Trump, the previous president of the United States, has started accepting donations in the form of Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies available on Coinbase Commerce for his campaign. This move is in line with his potential return to the White House.
The decision to accept crypto donations was officially announced by the Trump campaign. This initiative is a reflection of the party’s pledge to back the crypto industry if Trump is re-elected in the upcoming presidential election.
Promise to Accept Crypto Donations
Trump had previously hinted at accepting crypto donations during a Trump Cards NFT Gala event. When asked by supporters if they could donate crypto to his presidential campaign, Trump confirmed and vowed to make it possible.
The promise has been fulfilled, with supporters now able to contribute to his campaign using any virtual assets listed on Coinbase Commerce, a digital payment service provided by the US exchange.
Compliance with Federal Rules
The Trump campaign sees this move as an opportunity to raise additional funds by tapping into a new source of potential contributions.
As per the campaign’s announcement, crypto donations will be treated as in-kind contributions, similar to stock donations. This gives the campaign flexibility to either sell the donated cryptocurrencies for cash or keep them as digital assets.
The campaign has made it clear that digital asset donations will adhere to Federal Election Commission (FEC) regulations. This includes specific limits on donation amounts and reporting requirements.
The campaign views accepting crypto donations as part of Trump’s efforts to decrease government influence over American financial decisions. The campaign stated that this reflects Trump’s commitment to an agenda that values freedom over socialist government control.
Fighting Anti-Crypto Policies
The Trump campaign is preparing to mobilize supporters against the anti-crypto positions of President Biden and Elizabeth Warren. Warren has publicly announced her intention to form an “anti-crypto army” to counter the rise of cryptocurrencies in the US.
Warren is a well-known critic of the industry and has repeatedly called for stricter crypto regulations. In response, the Trump campaign aims to gather a force to counter both Biden and Warren.
The campaign stated that with the new option of crypto donations, supporters will be able to build a crypto army to drive the campaign to victory.
