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 This material may not be published, broadcast, rewritten or redistributed.)
- Demonstrators Rally At Fort Worth Black Lives Matter Protest
- Moreland’s Game-Ending HR Gives Rangers 2-1 Over Royals
- More Than 600 Animals Rescued In July By SPCA Cruelty Investigators
- Army Report: Grenade Found In Room Of Dallas Gunman In 2014
- Cowboys Pay Tribute To Dallas Police Before Start Of Camp
- PHOTOS: Your Pet Pictures