The Kansas state legislature is seeking to limit individual crypto donations to political campaigns at $100 with a revision of its campaign finance law. If passed, the amendments would also necessitate recipients of cryptocurrency contributions to obtain the donor’s full name and physical address and an affirmation that they are not a foreign national.
According to the proposed rules, cryptocurrency contributions can only be accepted if they are made and received through a US-based payment processor that can verify the donor’s identity.
In 2017, the U.S. state requested campaigns to refrain from taking crypto donations until the Kansas Governmental Ethics Commission studied its implications further. Consequently, amendments were made to the Kansas campaign finance act on Jan 25, and a hearing was arranged for Tuesday concerning this bill.
Kansas issued a clear warning that no individual will be allowed to donate or accept more than $100 worth of cryptocurrency for any given election from anyone. Despite this, some U.S. politicians have received crypto contributions; however, donations from those associated with the crypto industry remain under strict surveillance following the collapse of the FTX exchange, and Sam Bankman-Fried’s generous contributions to several prominent American politicians.
