This might be a new use case for NFTs. The FEC has approved NFTs for fundraising efforts.
The United States Federal Election Commission has issued an advisory opinion stating DataVault Holdings may use nonfungible tokens for fundraising efforts.it was “permissible” for DataVault holdings to send nonfungible tokens, or NFTs, to political campaign contributors without violating rules on corporate contributions. According to the election agency, DataVault will receive “reasonable compensation” for each NFT issued to contributors, as well as track all tokens issued for its own records.
“The Commission concludes that DataVault’s proposals to provide political committees with NFTs on the same terms that it regularly offers its non-political clients would be a permissible extension of credit by DataVault in the ordinary course of business,” said FEC Chair Allen Dickerson. “Under the Act and Commission regulations, an incorporated commercial vendor may extend credit to political committees under terms substantially similar to those the vendor offers non-political debtors.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The driving forces behind crypto adoption in Latin America in 2022Crypto companies in Latin America are exploring ways to use blockchain technology and digital assets to solve regional challenges.
Read more »
Future of Digital Fashion: Dressing Your NFTs | HackerNoonThis use case proves how digital fashion NFTs can also increase the value of PFPs projects. - metaverse metaversegaming
Read more »
Trump's NFTs aren't the only bad political Christmas presentsDo you want to give a lousy Christmas present this year? Fear not, because politicians can help make that possible. So, instead of giving people thoughtful presents and supporting small businesses, you can pump a politician’s ego with overpriced gifts.
Read more »
Calls rise for federal investigation into Congressman-elect George Santos' alleged fraudulent behaviorTuesday, local leaders called on Santos to resign, but they say since then Santos has not refuted any claims made by the Times, or any other national reporting.
Read more »
Federal court ruling may prevent Texas teens from getting birth control without parental permissionU.S. District Judge Matthew Kacsmaryk, a former religious liberty lawyer, found that a federal program that gives teens access to birth control denies a parent “a fundamental right to control and direct the upbringing of his minor children.”
Read more »
Court upholds injunction against Biden COVID-19 vaccine mandate for federal contractors in three statesA federal appeals court has upheld a lower court decision blocking the Biden administration from enforcing its COVID-19 vaccine requirements on federal contractors.
Read more »