US congressman Soto is accepting crypto donation for 2020 campaign

In this post:

Representing Central Florida’s 9th District, the United States congressman Darren Soto has disclosed that he will be accepting crypto donations for his 2020 re-election campaign. Rep. Soto has been a big supporter of blockchain – the technology that underpins digital currencies – and has sponsored several blockchain-related proposals which he deemed useful for the residents.

Soto opens to crypto donations for his reelection 

The Blockchain-friendly Rep. Soto announced that – alongside the Chamber of Digital Commerce PAC – he will be supporting crypto donations during a recent Blockchain Debate that was hosted by his campaign. In line with his statement, the crypto donations will be facilitated by BitPay, a digital currency payments processor. 

Rep. Soto’s supporters will be donating to his reelection campaign this year, using eight different digital currencies. The cryptocurrencies mentioned include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH). The other supported cryptocurrencies are popular stablecoins such as Gemini Dollar (GUSD), Paxos Standard (PAX), USD Coin (USDC), and Binance USD (BUSD).

Apart from the US, Cryptopolitan reported that politicians in Japan can equally fund their election campaigns through digital currency donations. 

Blockchain advocate

The United States Representative has since been pushing towards the mainstream adoption of blockchain technology in the country. As of January 2019, Rep. Soto was named as one of the chairmen of the Congressional Blockchain Caucus. This is a bipartisan group that was established to promote the future of blockchain, and how Congress contributes to the technology’s development.

Recently, Rep. Soto sponsored two new blockchain proposals: the Blockchain Innovation Act, and part of the Digital Taxonomy Act, which is to be included in the broader Consumer Safety Technology Act. While commenting on this, Rep. Soto explained:

“I believe our government needs to support that growth, establish light-touch regulations to ensure certainty, protect innovation, stop fraud, and enable its appropriate use for government, business, and consumers.”

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Crypto investments exceeded $1 billion in May: Report
Subscribe to CryptoPolitan