Taiwan Sees First Cryptocurrency Political Donation • Live Bitcoin News

A Taipei City Council candidate has reportedly disclosed a donation to his political campaign made in Bitcoin. While the donated amount was “symbolic,” it marks the first of its kind in Tawain.  

‘Non-Cash Political Donation’

Hsiao Hsin-Chen, a candidate for the Taipei City Council, has reportedly disclosed that he had received a donation in Bitcoin, local media says. Purportedly, this is the first time a cryptocurrency has been used to make a political donation.

It’s worth noting that the donated amount, according to the report, was for NT$10,000, which is roughly around $325. Even though it may seem like an inconsiderable sum, this is the actual limit for “non-cash political donations,” which is how cryptocurrencies are classified under the finance law.

Speaking on the matter, Hsiao said:

Accepting Bitcoin as a political donation is more symbolic than the act appears.

The politician announced in August that he will be accepting cryptocurrency donations for his campaign….