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FEC deadlocks, for now, on whether political committees can accept bitcoin

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Political donors, put away those bitcoin wallets for now.

The Federal Election Commission on Thursday deadlocked on the question of whether federal candidates and political action committees can accept the virtual currency, with the three Democratic appointees saying they want the agency to take more time to study the issue and develop a formal policy to govern the use of bitcoins in campaigns.

Chair Ellen Weintraub stressed that the lack of action did not mean the panel would not approve bitcoin donations at some point, but said that the Internet cash raised many complicated questions – particularly about disclosure and whether bitcoins constitute money – that required more examination.

“We have not seen the last of bitcoin at the FEC,” she said.