A new political action committee (PAC) set up by a group of Bitcoiners who support U.S. 2020 Democratic Presidential Candidate Andrew Yang is reportedly accepting Bitcoin donations made via the Lightning Network.
More specifically, this is a super PAC, which means that unlike a regular PAC, it “can raise funds from individuals, corporations, unions, and other groups without any legal limit on donation size.”
According to a report by Coindesk published on Thursday (July 25), this crypto-friendly super PAC, which is named Humanity Forward Fund, will be accepting Lightning payments with the help of Bitcoin payment processor OpenNode.
OpenNode CEO Afnan Rahman told CoinDesk:
The super PAC obviously wants to receive donations as large as possible. But at the same time, individuals who want to donate just a bit to Yang’s platform now have that opportunity. It allows the donors to have all of the amount go toward the actual donation rather than miner fees.
According to this super PAC’s founder, Seth Cohen, only BTC payments are accepted for the first three weeks; later, fiat (USD) donations will also be accepted. Cohen told Coindesk that the group is not sure yet whether or not to hold BTC since “potentially earning or losing money creates additional regulatory requirements.”
Yang, who might be the most crypto-friendly U.S. presidential candidate ever, spoke on May 2015 at the Consensus 2019 conference in New York. The same day, he sent out the following tweet:
— Andrew Yang (@AndrewYang) May 15, 2019