(BlockBar) On Thursday, bitcoin supporters backing Andrew Yang, the democratic presidential candidate, launched a cryptography friendly super PAC Humanity Forward Fund. Owing to OpenNode, the PAC’s payment processor, the entity will be able to accept payments from lightning wallet. This could be the first time the bitcoin expansion solution, the lightning network (LN), has officially influenced a U.S. presidential election.
“The super PAC show wants to receive donations as large as possible. But at The same time, Individuals who want to donate just a bit to Yang’s platform now have that opportunity, “OpenNode CEO Afnan Rahman told CoinDesk.” It allows the donors to have all of the amount go toward the actual Donation rather than miner fees.”
AndrewYang’s cryptocurrency fundraising website is already online, where you can see details of donations made in cryptocurrency. Andrew Yang was born in the United States and is a second-generation Chinese immigrant. He has an enviable resume and graduated from Ivy League Columbia law school. It is because of his legal background that AndrewYang first proposed the idea of “human capitalism”, advocating the protection of human beings and human nature, rather than blindly pursuing economic interests. So he is popular now.
Cohen said of the challenges of managing bitcoin donations: “Potentially earning or losing money creates additional regulatory requirements,” Cohen told CoinDesk about the challenge of managing bitcoins donations. It order to mandate the PAC keep records of It Bitcoin’s history for each donation.”
Even so, OpenNode only charges 1 percent for transaction processing which is far less than credit card payers, which charge four times as much for super pacs,.
While this is not the first political campaign to accept bitcoin donations — states such as California and South Carolina even ban the direct donation of cryptocurrency to candidates — the 2020 election may have created the first BTC centric super PAC and endorsed only one particular candidate.
Andrew Yang, a candidate in the US presidential election in 2020, has released a new policy statement on encrypted assets. In the statement, Yang, who is vying for the democratic nomination in a crowded field of candidates, said his goal was to “develop clear guidelines in the world of digital assets so that companies and individuals can invest and innovate in the field without fear of being affected by policy changes.” Andrew Yang has become the first 2020 presidential candidate expected to take a clear stand on cryptocurrency policy.
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