Startup CoinVox Brings Bitcoin Donations to Politicians

With Recent Approval From the Federal Election Commission (FEC), Political Candidates and Organizations Can Benefit From Digital Currency Fundraising

CoinVox will partner with political candidates and organizations to maximize bitcoin giving, while also helping them navigate the new and relatively gray area of bitcoin-related campaign finance regulations. Photo: Adam Dachis/Flickr

CoinVox will partner with political candidates and organizations to maximize bitcoin giving, while also helping them navigate the new and relatively gray area of bitcoin-related campaign finance regulations. Photo: Adam Dachis/Flickr

At the moment CoinVox, the digital currency services firm, is looking forward to make it easy for customers to send donations in bitcoins to their favourite politicians. CoinVox offers immediate support to political candidates and nonprofit organizations allowing to accept Bitcoin donations, with no added fees. Moreover, additional consulting services are available to committees and candidates who want to operate with the Bitcoin community.

“In addition to its donation platform CoinVox offers technical support advice and access to the best legal experts, donors, and consultants from the Bitcoin community,” said the founder of CoinVox, Chris David. “We plan to be the one-stop shop for connecting politicians and nonprofits to the Bitcoin economy.”

Chris David, the CEO of CoinVox, announced that the launch of the service is planned to happen at the event sponsored by startup accelerator Plug & Play in San Francisco on Thursday.

The main plan of CoinVox is to connect every politician, candidate and nonprofit organization to the digital currency economy.

“Bitcoin is in the early stages of transforming how society deals with money, and it is only a matter of time until Bitcoin transforms politics… We want to make it easy for them to be able to receive support from the bitcoin community in the way of donations and also in the ways of volunteer support or any other kind of favorable press that will come with siding with this issue,” said founder of CoinVox.

Furthermore, though at first the service was designed to provide assistance for political candidates and committees, the company’ service is also available to a various types of organizations interested in collecting bitcoin donations.

“Whether it be charities or other types of general interest groups, this has the potential to open up new avenues of advocacy and financial assistance, including entirely new forms of peer-to-peer fundraising,” added Mr. David.

In addition candidates who use CoinVox will be assure that people donating with bit coins are compliant with the Federal Election Commission. Last month, the FEC announced that political campaigns may start accept digital currency as a contribution.

However  the situation is still unclear, as there is a number of issues relating to the contribution limits as bitcoin can be spend anonymously and also approved expenditures paid for Bitcoin.

 

 

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