FEC: No bitcoins in federal campaigns

The Federal Election Commission (FEC) deadlocked on a proposal to allow donations involving bitcoin in political campaigns, dealing a significant setback for proponents of emerging virtual currencies. The six-member body split 3-3 on the proposal. “They didn’t say no,” said Dan Backer, who filed the request on behalf of the Conservative Action Fund (CAF) PAC. “They decided they’re not ready to say yes.” Backer argued that virtual currency is “just another form of in-kind contribution,” already allowed by the FEC.

(Nov 21)