WASHINGTON, D.C. (September 18, 2013) - Attorneys for Perkins Coie LLP, on behalf of The Bitcoin Foundation, a non-profit association serving the advocacy needs of the Bitcoin community, filed comments with the Federal Election Commission (FEC) yesterday urging the FEC to approve the use of Bitcoins for federal political contributions. The FEC is considering the issue in the context of a request pending before it from a political action committee. A decision is expected by October 28, 2013.
Jacob S. Farber, Senior Counsel with Perkins Coie representing the Bitcoin Foundation noted “Various state- and national-level campaigns are already accepting Bitcoins, and they are well-suited to political contributions because of the transparent nature of Bitcoin transactions. Accordingly, the FEC should formally recognize their use. Recognition of Bitcoin in this manner by the FEC would mark an important milestone for Bitcoin.”
The Bitcoin Foundation is an advocacy-focused association dedicated to serving the business, technology, government relations, and public affairs needs of the Bitcoin community. The Foundation’s members include many of the major companies and other entrepreneurs in the Bitcoin industry. The Bitcoin Foundation, a not-for-profit institution, seeks to broaden the use of Bitcoin, protect the integrity of the Bitcoin protocol, and promote its use through technological investment in the Bitcoin infrastructure, public education, and initiatives in law and policy.
Perkins Coie provides regulatory investigations and compliance counseling, litigation support and business transaction assistance, regarding a range of Bitcoin and virtual currency systems, services and products. The Firm’s clients include virtual currency exchanges, businesses, payment processors, investors, and industry associations.
Jacob S. Farber is a senior counsel in the firm's Washington, D.C. office and a member of the Technology Transactions & Privacy practice. He represents clients ranging from start-ups to Fortune 20 companies in a wide variety of IT and technology-focused transactional and counseling matters and regulatory matters, including general commercial contracting, Internet and e-commerce agreements, technology and software acquisition and licensing, strategic procurement, outsourcing, logistics, joint-ventures and other partnering arrangements, privacy, data security and mergers & acquisitions. He represents clients across a broad variety of industries, with an emphasis on communications, emerging payments and virtual currency, mobile, social networking, online service provider, emerging payments, interactive entertainment, and healthcare companies.
Jon Matonis is the Executive Director and Board Member of the Bitcoin Foundation. A money researcher and crypto economist from George Washington University, Jon advises startups in Bitcoin, gaming, mobile and prepaid organizations. A tech contributor to Forbes Magazine, contributing editor at CoinDesk and editor of The Monetary Future, Jon serves on the editorial board of Bitcoin Magazine. Previously CEO of Hushmail and Chief Forex Trader at VISA., Jon also held senior posts at Sumitomo Bank and VeriSign.
About Perkins Coie: Founded in 1912, Perkins Coie LLP has more than 1,000 lawyers in 19 offices across the United States and Asia. The firm provides a full array of corporate, commercial litigation and intellectual property legal services to a broad range of clients, from FORTUNE 50 corporations to emerging growth startups, as well as public and not-for-profit organizations.
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