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US Congressman Darren Soto to Accept Cryptocurrency Donations for 2020 Election

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Aeon Flux
Published on:
11 September 2020
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Sep 10, 2020 at 16:50 UTC

https://commons.wikimedia.org/wiki/File:Grijalva,_Soto_and_Gallego_in_March_2019.jpg

Rep. Darren Soto (in foreground) (Rep. Ruben Gallego/Wikimedia Commons)

Rep. Darren Soto (D-Fla.) – sponsor of a number of legislative proposals around blockchain technology – is accepting cryptocurrency donations for his reelection campaign.

  • Soto made the announcement during the U.S. Blockchain Debate on Wednesday, hosted by Soto’s campaign and the Chamber of Digital Commerce PAC.
  • Donations will be processed by payments processor BitPay, with eight different cryptocurrency options supported for conversion into U.S. dollars.
  • Those include bitcoin (BTC), bitcoin cash (BCH), ether (ETH), Gemini dollar (GUSD), USD Coin (USDC), Paxos standard (PAX), Binance USD (BUSD) and XRP.
  • Soto has long been an advocate of blockchain technology, saying the government should support its use for business and consumers, according to a press release.
  • Soto, who is also a co-chair of the Congressional Blockchain Caucus, said he was “excited” to host a crypto debate on the same day as a vote to pass parts of the Digital Taxonomy Act.
  • The proposal was ultimately passed and added to the wider Consumer Safety Technology Act.
  • This will now be debated in the House of Representatives.
  • The blockchain portion of the act would require the Federal Trade Commission to submit a report and recommendations to Congress on unfair or deceptive acts relating to digital assets, Soto’s spokesperson told CoinDesk.

See also: Pro-Bitcoin Senate Candidate Wins Primary Race in Wyoming

Read more about…

BitPayDonationsElection 2020Darren SotoCoinFlash

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The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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