Tennessee Bill to add bitcoin as a valid payment method

Senator Steven Dickerson, a Republican from Nashville who introduced a new bill before the Tennessee Senate, is looking to ensure that the Federal Election Commission's (FEC) consent to the bitcoin campaign donations will be accepted in the state.

The purpose of the Senate Bill 647 is to revise Tennessee Code to include digital currency as a permitted payment method. It would in effect add bitcoin so that it is regarded as a legitimate monetary contribution to campaigns.

However, it will have no impact on the donation limits enforced by the FEC, but under current guidelines, would call for candidates to sell digital currency prior to spending of the funds.