The Kansas state legislature is attempting to limit individual cryptocurrency donations to political campaigns to $100 by amending its campaign finance law. New changes being considered could also require recipients of crypto donations to obtain the donor’s full name and physical address and confirm they are not foreigners.
The rules also suggest that crypto donations “will only be accepted if made and received through a US-based cryptocurrency payment processor” that can reasonably confirm the identity of the original donor, the filing states.
In 2017, US states urged campaign teams not to accept cryptocurrency donations while the Kansas government ethics committee investigated the issue. Hearings on the January 25 campaign finance amendments in Kansas are scheduled for Tuesday.
“No person shall make or accept any cryptocurrency contribution for any candidate or candidate committee that in the aggregate exceeds $100 for any one primary or general election from any one person,” the document said.
While Kansas may have been cautious about donating to crypto campaigns, some U.S. politicians have accepted crypto donations. Donations from individuals and entities related to cryptocurrencies have come under scrutiny after the collapse of cryptocurrency exchange FTX caused ripples in the industry and revealed that its founder, Sam Bankman-Fried, was making significant contributions to US politicians.
