The U.S. Federal Election Commission came a step closer to allowing people to mine cryptocurrencies for their favorite candidates, with a caveat.

The FEC issued a preliminary ruling last week on a September filing from OsiaNetwork LLC, which wants to allow volunteers to support federal political committees by “pooling” the processing power of their internet-enabled devices to mine cryptocurrencies.

According to the FEC’s letter, while OsiaNetwork’s proposal “is permissible” under its regulations, “it does not fall within the volunteer internet activities exception, and would result in contributions from both the individuals and the OsiaNetwork to the participating political committees.”

That means, according to CoinDesk, that while OsiaNetwork can set up a mining pool, any donations made to political campaigns with those proceeds would count as a contribution both from the miners participating as well as the company.

The FEC’s commissioners will vote on the preliminary opinion on Dec. 19. Read more here.

ThirtyK Staff
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