February 2, 2023

Bobbys Brane

Bobbys Brane – Business & Tech Blog

US election agency approves use of NFTs as campaign fundraising incentive By Cointelegraph

1 min read

The United States Federal Election Commission (FEC) has issued an advisory opinion stating DataVault Holdings may use nonfungible tokens for fundraising efforts.

In a Dec. 15 notice, the FEC said 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.

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