SAN FRANCISCO, CA -- (Marketwired) -- 06/12/14 -- CoinVox (http://coinvox.org), the digital currency services firm for political and nonprofit organizations, today announced that it has officially launched a first-of-its-kind service to help political candidates and organizations accept contributions in Bitcoin while remaining compliant with campaign finance regulations. CoinVox offers immediate assistance to political candidates and organizations seeking to accept Bitcoin donations, with no added fees. Additional consulting services are available to political committees and nonprofits looking to further engage the Bitcoin community.
"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," said CoinVox founder and CEO Christopher David. "CoinVox will make it easy for future-oriented politicians and cause leaders to join the Bitcoin ecosystem and support honest currency. Our goal is to connect every elected official, candidate, political and nonprofit organization to the digital currency economy."
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. CoinVox has partnered with international law firm Perkins Coie, renowned for its political law practice, to engage lawmakers and regulators about digital currency compliance.
Last month, the Federal Election Commission issued an advisory opinion stating that political action committees (PACs) may start accepting contributions in bitcoin. However, the decision leaves much of a gray area on issues like contribution limits and approved expenditures paid for with Bitcoin.
"The FEC's advisory ruling was a clear signal of support for innovation and Bitcoin. Not all questions have been answered, but we know enough about the Commission's expectations to proceed with implementation. We have built a strong team of legal advisors to help candidates navigate any remaining gray areas of bitcoin campaign finance regulation. In the coming months, we look forward to working with lawmakers and regulators to develop sensible policies and regulations that maximize innovation within the bounds of the law," said David.
While primarily designed to assist political candidates and committees, CoinVox is also available to all types of organizations interested in raising 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 David.
CoinVox is a digital currency services firm offering the first nonpartisan Bitcoin donation platform for political organizations. CoinVox also provides technical support and consulting services to help political and nonprofit organizations connect to the digital currency economy. For more information, please visit http://coinvox.org.
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