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Tuesday, September 21, 2021
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County Treasurer in Illinois accepts crypto donation in reelection bid

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Holly Kim, a treasurer in Lake County, Illinois, has reportedly develop into the primary political candidate within the state to just accept crypto marketing campaign donations.

Based on the Chicago Tribune on Wednesday, Kim lately received a $3 Litecoin (LTC) donation from Mark Tan, founding father of T Capital Coin, an funding administration outfit based mostly in Lake Forest.

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The Lake County Treasurer who’s up for reelection in 2022 plans to just accept Bitcoin (BTC) and most of the standard cryptocurrencies together with Ether (ETH), Dogecoin (DOGE), and Dai (DAI).

For Kim, accepting crypto donations opens up a “new frontier” for assist from tech-savvy individuals, including: “It appears to be how individuals wish to give.”

Kim, a Democrat can be a crypto fanatic and has reportedly tried to make use of her place as a former trustee in Mundelein to encourage cryptocurrency adoption within the village.

Given her curiosity in cryptos, the self-professed “long-time netizen” has plans to carry on to the crypto donations within the expectation of a attainable value advance available in the market.

Cryptocurrencies loved parabolic positive aspects at the beginning of the yr in a continuation of the upward pattern that started in This autumn 2020. Nonetheless, costs have declined considerably since Could with many tokens over 50% of their worth.

Associated: Can Political Fundraising Through Crypto Find Mainstream Acceptance?

Although arguably unusual, crypto political donations are usually not remarkable in the US. Certainly, the Federal Election Fee legalized crypto political marketing campaign contributions way back to 2014.

Again in June the Nationwide Republican Congressional Committee — the Republican Get together’s election coordinator — announced plans to begin accepting crypto donations. Former U.S. Presidential aspirant Andrew Yang additionally accepted crypto donations throughout his marketing campaign again in 2020.

A number of state and federal legislative aspirants have also accepted crypto donations, typically in a bid to spur contributions from the youthful extra tech-savvy demographic.