Bitcoin makes an itty-bitty splash in MA politics

Written By Unknown on Senin, 29 September 2014 | 00.52

With barely more than a month to go before Election Day, there has been one thing practically nonexistent this cycle: bitcoin.

The virtual currency, which made waves when the Office of Campaign and Political Finance said in January it was A-OK for campaigns to accept, is currently invisible.

That is, with one exception.

State Rep. Josh Cutler (D-Duxbury) has raised an itty-bitty $25 in bitcoin, because why not?

He said one of his constituents, who is all about the currency which is worth as much as people say it is, wanted to try it out.

"I had to turn to my college intern to get the lowdown on bitcoin," Cutler said. "I had heard of bitcoin but I didn't know anything about it."

The controversial currency almost had a brush with the gubernatorial race. In December, an attorney for the Charlie Baker campaign asked campaign finance officials if it would be kosher to hold a fundraiser and ask for bitcoins.

"In a regulated industry it is important for campaigns to remain constantly informed of the impact of new technologies," Baker spokesman Tim Buckley said.

The fundraiser never happened.

Campaign representatives for Baker, Maura Healey, Evan Falchuk and Seth Moulton all said they have not received any contributions in bitcoin. Attorney General Martha Coakley's campaign did not respond.

After OCPF issued its opinion in response to an inquiry from the Massachusetts Pirate Party, the office said campaigns could add the bitcoin booty to its treasure chests, as long as it is converted to USD within five days and is within the contribution limits.

Still, the finance watchdogs closely monitored bitcoin in the following months, including when the founder of one of the largest bitcoin exchanges was found dead, according to a Herald public records request.

The same day the advisory opinion was issued, the Sacramento Kings became the first professional sports team to accept bitcoin.

"The day will go down in bitcoin infamy," OCPF legal counsel Maura Cronin wrote in an email to OCPF spokesman Jason Tait.

If the last nine months are any indication, that is just a bit off-track.


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