State House votes to let lawmakers accept digital currency as campaign 'gift'

State House votes to let lawmakers accept digital currency as campaign 'gift'

April 20th, 2015 by Andy Sher in Local Regional News

A pile of bitcoin tokens are displayed.

A pile of bitcoin tokens are displayed.

Photo by Associated Press /Times Free Press.

NASHVILLE -- The state House voted 61-28 today to let lawmakers accept digital currencies such as bitcoin.

The bill, sponsored by Rep. Jeremy Faison, R-Cosby, now goes to Republican Gov. Bill Haslam for his consideration. Senators passed the bill in March.

In response to questions, Faison said the money would be counted as a campaign "gift" with the donor's name, address and employer listed. Candidates could only accept the digital currency from U.S. citizens, he said.

The Federal Election Commission has already allowed bitcoins to be accepted in federal contests.