Abbott Campaign Accepting Bitcoin Contributions

View Comments
(Photo by George Frey/Getty Images)

(Photo by George Frey/Getty Images)

From Our CBS Music Web Sites

453641528 10 Abbott Campaign Accepting Bitcoin ContributionsAdorbale Baby Animals To Put A Smile On Your Face

150725619 10 Abbott Campaign Accepting Bitcoin ContributionsHot Models In Glasses

 alt=Musicians Then And Now II

452359780 10 Abbott Campaign Accepting Bitcoin ContributionsMissing Summer?

87222728 Abbott Campaign Accepting Bitcoin Contributions8 Reasons to Have A Good Love Life

sx Abbott Campaign Accepting Bitcoin Contributions Victoria's Secret Fashion Show

AUSTIN, Texas (AP) — Texas Attorney General Greg Abbott’s campaign for governor says it will accept contributions made with the bitcoin virtual currency.

Abbott on Thursday called bitcoins, a decentralized digital currency, symbolic of free-market principles.

The Republican’s campaign said it would accept bitcoin as in-kind contributions. Like traditional contributions, bitcoin donors will be required to submit names, addresses, employer and occupation. All bitcoin contributions will be reported on campaign finance reports.

Bitcoins were created in 2009 by a mysterious figure or group known as Satoshi Nakamoto and are used for transactions across borders without third parties such as banks. They have also become an investment craze.

The Internal Revenue Service issued guidance last month concluding that bitcoins can only be taxed as property and are not legal tender.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Latest News:

Top Trending:

View Comments