California now allows cryptocurrency political donations

Published on:

Last Updated on August 23, 2022 by Bitfinsider

California has had a ban on crypto donations in place since 2018. The Fair Political Practices Commission overturned the decision. California was previously one of only nine states in the country that prohibited digital currency donations to political campaigns, but it now joins a list of 12 regions, including Washington, D.C., that have finally said “yes.”

The one drawback to California’s ruling is that all crypto donations made as political contributions must be converted to USD right away. As a result, no candidate can keep the crypto units or use them to invest or aid in their growth. They must be immediately converted to US dollars and cents and applied to a political item or other aspect of one’s campaign. The funds must also be transferred through a financial platform based in the United States.

These new rules only apply to state and local campaigns; federal campaigns can already accept cryptocurrency donations. The donation regulations are expected to be implemented within the next 30 days.

Holly Kim, a democrat in Illinois running for reelection as the state’s Lake County Treasurer, was one of the most recent political candidates in America to accept cryptocurrency donations.

California has become more involved in the cryptocurrency world in recent months. Following Joe Biden’s crypto executive order earlier this year, California Governor Gavin Newsom announced he would do the same, requiring a study of digital currency’s risks and benefits to see how the assets could be integrated into the state’s government systems and how they could help businesses in the region.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked.

To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor


Are you new to investing and would like to find out more about investments and cryptocurrency? If you know nothing about a topic and want to become an expert on it, one fool proof way to start is to read good books about the topic.

If you read one book about a topic, you will be able to share knowledge or discuss the topic at an elementary level with almost everyone.

Read three books and you will likely know more than the majority of people and will be able to discuss the topic at an intermediate to expert level.

  1. The Intelligent Investor by Benjamin Graham
  2. Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs and More by Ian Balina
  3. The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology That Powers Them by Antony Lewis

Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.

Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

Related