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House Republican campaign arm to accept cryptocurrency donations

17 June 2021
Dan Ackermann

The Republicans' House campaign arm will begin accepting contributions in cryptocurrency, Axios has learned.

Why it matters: The National Republican Congressional Committee is the first national party committee to solicit crypto donations. That puts it at the forefront of a disruptive financial technology that could test campaign finance rules.

How it works: The NRCC tells Axios it will process the donations using the payment processor BitPay. Crypto donations will be immediately converted into dollars before landing in the NRCC's account.

  • That means the committee will never actually take possession of the donated cryptocurrencies, allowing it to accept individual donations of up to $10,000 per year, rather than the $100 maximum value for transfers of actual cryptocurrency like Bitcoin.
  • In other words, the NRCC isn't actually receiving crypto, it's just soliciting proceeds from their sales.
  • It takes a step out of the process, allowing a more seamless transaction from crypto holdings to political contributions.

What they're saying: "We are focused on pursuing every avenue possible to further our mission of stopping Nancy Pelosi’s socialist agenda and retaking the House majority, and this innovative technology will help provide Republicans the resources we need to succeed,” Rep. Tom Emmer (R-Minn.), the NRCC chairman, said in a statement.

  • Emmer also is a co-chair of the Congressional Blockchain Caucus, as well as a member of the House Financial Services Committee.
  • He recently pressed the IRS to ease regulations on cryptocurrency donations to charitable groups.

Background: While the NRCC is the first party committee to do so, a handful of federal political candidates have accepted crypto donations.

  • The Federal Election Commission has expressed concerns about tensions between federal transparency and disclosure rules and the anonymity that cryptocurrencies are designed to provide.
  • The NRCC, like other political committees that have solicited crypto contributions, says it will diligently gather identifying information from all individuals who use crypto to donate.

Transcripts show George Floyd told police "I can't breathe" over 20 times

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Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.

Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.

The state of play: The transcripts were released as former officer Thomas Lane seeks to have the charges that he aided in Floyd's death thrown out in court, per the Times. He is one of four officers who have been charged.

  • The filings also include a 60-page transcript of an interview with Lane. He said he "felt maybe that something was going on" when asked if he believed that Floyd was having a medical emergency at the time.

What the transcripts say:

  • Floyd told the officers he was claustrophobic as they tried to get him into the squad car.
  • The transcripts also show Floyd saying, "Momma, I love you. Tell my kids I love them. I'm dead."
  • Former officer Derek Chauvin, who had his knee on Floyd's neck for over eight minutes, told Floyd, "Then stop talking, stop yelling, it takes a heck of a lot of oxygen to talk."

Read the transcripts via DocumentCloud.