Home NFTs Calif. Charts Regulatory Path For NFTs In Campaign Finance

Calif. Charts Regulatory Path For NFTs In Campaign Finance

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Calif. Charts Regulatory Path For NFTs In Campaign Finance

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By Amber Maltbie, Bill Powers and Mariel Turner (May 13, 2022, 6:16 PM EDT) — For the first time, California’s Fair Political Practices Commission has issued guidance addressing the use of digital assets for fundraising purposes by campaigns and political action committees.

Although the Federal Election Commission and many states have addressed the use of cryptocurrency to make political contributions, California appears to be the first state to address the use of nonfungible tokens, or NFTs, head-on.

The California NFT opinion will provide important lessons for addressing the use of new technologies in campaigning in the 2022 election and beyond, for other campaign regulators, and for NFT creators and trading platforms grappling with this issue….

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