January 29, 2021 •
Ethic Commission Disallow Cryptocurrency Contributions
The South Carolina Ethics Commission issued an opinion finding candidates for public office may not accept campaign contributions in the form of digital cryptocurrencies, including Bitcoin.
Advisory Opinion 2021-001 references and adopts the reasoning of a similar opinion issued in 2018 by the South Carolina House Ethics Committee.
The opinions found cryptocurrencies do not meet the definitions of a “thing of value” or “contribution” as defined under current state law.
Both opinions state the decision to permit such contributions should be done through an act of the Legislature rather than through an advisory opinion.
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