Andre Yang, a second-generation Chinese-American is already campaigning for the 2020 U.S. presidential election on a Denmocratic party ticket and he’s just announced that he’ll accept official campaign donations in bitcoin or other cryptocurrencies.
Yang, who supports a policy dubbed “human capitalism,” which puts an emphasis on human well being, will be accepting BTC and ETH for donations. However, his campaign will also welcome any donations made in any other cryptocurrency as long as it’s based on the ERC20 standard. The only limitation — it has to be a minimum of $2,500.
This isn’t the first time BTC has played a role in the political arena. Back in May, two Democrat nominees in the California Congressional race got into a spat over crypto donations. Brian Forde raised $130,000 in cryptocurrencies, indicating his popularity in the crypto community. His rival, Dave Min, made an advert about Forde stating “Brian Forde’s big donors? Bitcoin speculators who oppose cracking down on drug deals and human trafficking.” Ouch, that’s nasty!
Before that, Winston Edmonson, who is a four-time mayoral candidate in Lewisville, Texas suggested that the municipality issue its own cryptocurrency as means of funding the local police. Edmonson proposed the idea to avoid having to raise local taxes.
Is there a problem with accepting cryptocurrency for political campaign donations? What do you think?