Darren Soto (Courtesy: Twitter)
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US Congressman Darren Soto To Accept Cryptocurrency Donation

Darren Soto (Courtesy: Twitter)
Darren Soto (Courtesy: Twitter)

Rep. Darren Soto (D-Fla.) – sponsor of a number of legislative proposals around blockchain technology – is accepting cryptocurrency donations for his reelection campaign.

Soto made the announcement during the U.S. Blockchain Debate on Wednesday, hosted by Soto’s campaign and the Chamber of Digital Commerce PAC.

Donations will be processed by payments processor BitPay, with eight different cryptocurrency options supported for conversion into U.S. dollars.

Those include bitcoin (BTC), bitcoin cash (BCH), ether (ETH), Gemini dollar (GUSD), USD Coin (USDC), Paxos standard (PAX), Binance USD (BUSD) and XRP.

Soto has long been an advocate of blockchain technology, saying the government should support its use for business and consumers, according to a press release.

Soto, who is also a co-chair of the Congressional Blockchain Caucus, said he was “excited” to host a crypto debate on the same day as a vote to pass parts of the Digital Taxonomy Act.

The proposal was ultimately passed and added to the wider Consumer Safety Technology Act. This will now be debated in the House of Representatives.

The blockchain portion of the act would require the Federal Trade Commission to submit a report and recommendations to Congress on unfair or deceptive acts relating to digital assets, Soto’s spokesperson told CoinDesk.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.