Outside Source
Representative Mike Collins from Georgia announced that his campaign will now accept cryptocurrency donations.
Collins, an entrepreneur and active cryptocurrency trader, represents Georgia’s 10th Congressional District and has been a vocal advocate for crypto.
“America has been held back by our reluctance to adapt to emerging technology, whether that be AI, machine learning, or alternative assets like crypto,” Collins stated. “I hope that by introducing this platform, I can destigmatize the crypto industry and advance the future of global finance and innovation.”
He emphasized the necessity for the United States to remain competitive in the global financial system by adapting to alternative digital assets, including Bitcoin (BTC), Ethereum (ETH), altcoins, and memecoins.
Donald Trump started a trend
Collins’s campaign is among the growing number of political entities embracing cryptocurrency contributions, reflecting a broader trend in U.S. politics.
President Donald Trump added crypto into his political and business ventures. Trump’s campaign began accepting crypto donations during the 2024 election cycle.
His official website highlighted this move as a testament to his support for American innovation and a step towards countering regulatory constraints imposed by the previous administration.
Beyond campaign contributions, Trump’s business engagements have further intertwined with the crypto industry. His inauguration committee received substantial donations from major cryptocurrency firms such as Ripple, Coinbase, Kraken, and MoonPay, with contributions reaching from $4-5 million.
These donations underscore the crypto industry’s strategic efforts to influence policy and gain favor within the political sphere.
The trend of accepting cryptocurrency donations is not confined to Republican figures. Future Forward PAC, a leading super political action committee backing Democratic Vice President Kamala Harris, announced its acceptance of cryptocurrency contributions.
Furthermore, Ripple gave money to Kamala Harris during the 2024 election cycle.
The Federal Election Commission permits cryptocurrency contributions to political committees, provided they adhere to existing contribution limits and reporting requirements. Campaigns receiving such donations must convert them into traditional currency before expenditure and ensure compliance with relevant regulations.
This article first appeared at crypto.news
