April 19, 2024
Kansas' HB 2167 cryptocurrency donation bill postponed to January 2024.
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Kansas HB 2167: Bill to Restrict Crypto Donations in Political Campaigns Faces Delay

A legislative bill in the state of Kansas, USA, which was designed to impose restrictions and prohibitions on cryptocurrency donations in political campaigns, has been postponed until January 2024.

On January 25, 2023, lawmakers in the Kansas House of Representatives introduced Bill HB 2167. This bill aimed to enforce a $100 limit on all political contributions in the state’s primary or general elections. Furthermore, it required politicians to promptly convert crypto donations into U.S. dollars, with no allowance for spending or holding the funds.

Following the bill’s introduction and its referral to the House Committee on Elections, a committee report was issued on February 22, 2023, which recommended the bill be passed with specific amendments.

However, the bill was removed from the legislative calendar due to non-compliance with the state’s Rule 1507, known as the Disposition of Bills Subject to Certain Deadlines, which imposes strict deadlines on certain bills.

The title of the bill, HB 2167, reads: “Amending the Campaign Finance Act to regulate and limit the use of cryptocurrency and to prohibit the use of any political funds collected by a candidate or candidate committee for a candidate for federal office.”

In 2018, Californian authorities also initially banned crypto political donations but later reversed this decision in July 2022. Meanwhile, nine U.S. Senators supported Senator Elizabeth Warren’s Digital Asset Anti-Money Laundering Act.

Senator Warren’s official Senate webpage identified Democratic Party Senators Gary Peters, Dick Durbin, Tina Smith, Jeanne Shaheen, Bob Casey, Richard Blumenthal, Michael Bennet, and Catherine Cortez Masto, along with independent Senator Angus King, as members of the bipartisan coalition supporting the bill.

Warren stated that their expanding coalition demonstrates that Congress is prepared to take action. The bipartisan bill is the most stringent proposal on the table, cracking down on the illicit use of crypto and providing regulators with additional tools while welcoming the new supporters of the bill.

Image by pixabay

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