Lt. Gov. Gavin Newsom To Accept Bitcoin Campaign Donations
Get Breaking News First
Trending Stories On CBS SF
97-Year-Old Says He Was Kicked Out Of Napa Retirement Home For Playing Music
Around 100 Attendees Heading To Australia AIDS Conference Among Victims Of Downed Malaysia Airlines Flight
Dueling Protests Face Off On Israel-Palestine Conflict Outside Jewish Temple In San Francisco
Apparently Drunk Man Arrested For Posing As TSA Agent, Patting Down Women At SFO
SoCal Homeowners Spray-Painting Lawns Green To Avoid Water Fees During Drought
SACRAMENTO (CBS SF) — California Lt. Gov. Gavin Newsom is among the first big-name politicians to accept campaign donations in the peer-to-peer payment system known as bitcoin.
Newsom joins politicians such as Colorado Rep. Jared Polis and Oakland mayoral candidate Bryan Parker in accepting the so-called virtual currency, or cryptocurrency, which is not controlled by a single entity and can be sent electronically, with payments recorded in a public ledger.
Earlier this month, the Federal Election Committee voted unanimously to allow bitcoin for political donations to candidates.
Washington Post finance and political reporter Matea Gold told Southern California Public Radio the real value in bitcoin donations sending a message to donors they are current with the times and open to technology.
“Realistically, we’re not going to see a huge amount of bitcoin donations,” said Gold. “I don’t know how many candidates will be eager to get this currency considering its value fluctuates so much.”