The US Federal Election Commission ruled Thursday that bitcoin donations to political committees are now allowed. 

In a unanimous 6-to-0 vote, the FEC said that a political action committee (PAC), a type of organization that pools campaign contributions from members in support of a particular candidate, can now accept bitcoin donations and even purchase them. 

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FEC's vote was instantaneous, but the commissioners have divergent views regarding the amount of how much bitcoins can be donated. 

The FEC decision came in the form of guidance to Make Your Laws PAC, which is not an official regulation. 

However, the FEC stated that bitcoins should be first sold and converted into U.S. dollars before they are deposited to PAC campaign accounts. The commission also did not approve bitcoins to be used to purchase goods and acquire services. 

In an advisory opinion request, the Make Your Laws PAC said it seeks to accept incremental bitcoin donations of up to US$100. The advisory was clear not to permit bitcoin contributions that would be more than the allowed US$100. 

According to Ellen Weintraub, one of the FEC commissioners who is also a Democratic appointee, the low sum of US$100 eased the concerns of other commissioners noting the risks involved in bitcoins. 

"The $100 limit was really important to us," said Weintraub. "We have to balance a desire to accommodate innovation, which is a good thing, with a concern that we continue to protect transparency in the system and ensure that foreign money doesn't seep in." 

Lee Goodman, FEC chairman and Republican appointee, disagreed with Weintraub. Goodman sees bitcoin not as an official currency, but may be categorized as an in-kind contribution. Under the federal campaign finance laws of the United States, individual donations are limited to US$2,600 per candidate per election, while a cap ofUS $5,000 is allowed for PACs. 

"To me, the opinion that the commission approved today supports the right of bitcoin users to contribute as they would all other kind things of value," said Goodman.

TagsBitcoins, Federal Election Commission, Federal Campaign Finance Laws, Politcal Action Committee