For congressional candidate Shrina Kurani, cryptocurrency is not only the future of money, it’s a transformative technology that could revolutionize campaign funding and attract a new generation of voters.
She is among a vanguard of candidates courting campaign contributions in digital currencies such as Bitcoin.
“We are a campaign that is speaking to a large part of the population, especially younger people,” said the American-born daughter of Indian immigrants, who is on Tuesday’s primary ballot as she seeks the Democratic nomination for a congressional seat east of Los Angeles.
Kurani’s foray into digital currency to help fund her campaign would not be possible if she were running for the California Legislature or some other office within the state. While the federal government allows political donations in cryptocurrency, California does not, having banned the practice four years ago.
The difference underscores not just the rising popularity of cryptocurrencies but also how regulation varies widely across the U.S.
Some states, including Arkansas and North Carolina, also don’t allow cryptocurrency donations in state races under existing campaign finance laws. Others have followed federal rules for congressional candidates and allow donations with disclosure requirements and contribution caps, typically set at $100. Still other states, including Hawaii, Idaho and South Dakota, have adopted no specific policies around digital currency donations.
Digital currencies offer an alternative that does not depend on banks. Instead, transactions are validated and recorded on a decentralized digital ledger called the blockchain.
Perianne Boring, founder and CEO of the Chamber of Digital Commerce, a trade association representing the blockchain industry, likened the use of cryptocurrency in politics to former President Barack Obama using smartphone technology and former President Donald Trump leveraging social media.
“Blockchain…
