South Carolina’s House Ethics Committee rejected a request last year to allow Bitcoin for election campaign donations, but a new bill in the state House of Representatives would allow candidates to take donations in digital currencies.
The bill would require candidates to report the market-rate value of digital currencies like Bitcoin when they come in as donations. Candidates would have to sell the Bitcoins or other “cryptocurrencies” before spending them in the campaign.
The Federal Elections Commission began allowing candidates for federal office to begin taking digital currencies in 2014, The News & Observer reports, but not all states have followed suit. North Carolina rejected allowing Bitcoin and other virtual currencies as elections contributions last year, the newspaper reports.
In South Carolina a candidate asked to accept Bitcoin as a contribution last year. The House Ethics Committee decided that since current state law has no provisions for digital currencies, candidates could not accept Bitcoin.