What comes as a latest crypto news in relation to U.S. political campaigns, the Kansas Legislature has considered introducing a new bill that, if passed, would place a $100 limit on the amount of cryptocurrency that can be donated. In the event that the law is set in motion, this cap would be determined by the “fair market value” of the cryptocurrency at the moment it was received by the payments processor.

In addition to this, the measure suggests imposing significantly more stringent crypto regulations on how virtual currencies can be utilized by political campaigns in the state of Kansas. Any cryptocurrency contributions that are received are required, per the parameters of the new laws, to be immediately translated into U.S. dollars, after which they are to be placed into the campaign account.

According to the guidelines, political campaigns will not be permitted to spend cryptocurrencies, nor will they be allowed to store them as an asset for an extended period of time. The size of the donations and the use of cryptocurrency will not be the only factors that will be subject to restrictions. The rules also propose political bodies would also be required to do further due diligence over the processing of cryptocurrency donations.