US House Republicans' campaign arm to accept crypto donations

Cryptocurrency • June 17, 2021, 6:13AM EDT
The Block

The National Republican Congressional Committee (NRCC), the U.S. House Republicans' campaign arm, is set to accept donations in cryptocurrency.

Axios reported the news on Wednesday, saying that the NRCC has partnered with crypto payments processor BitPay for the initiative. That means crypto donations will be converted into U.S. dollars by BitPay before being deposited in the NRCC's account.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

The NRCC has become the first national party committee to accept crypto donations, while several federal political candidates in the past have solicited donations in crypto.

"We are focused on pursuing every avenue possible to further our mission of stopping Nancy Pelosi’s socialist agenda and retaking the House majority, and this innovative technology will help provide Republicans the resources we need to succeed,” Tom Emmer, a crypto-friendly U.S. Representative (Republican-Minnesota) and the NRCC chairman, told Axios.

Emmer is also co-chair of the Congressional Blockchain Caucus and a member of the House Financial Services Committee. He recently reintroduced his Safe Harbor for Forked Assets Act proposal that would prohibit the Internal Revenue Service (IRS) from leveraging penalties related to forked assets until it issues further guidance for taxpayers. Earlier this month, Emmer also asked the IRS to ease regulations on crypto donations to charitable organizations. 

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.