Should California politicians be allowed to accept donations of cryptocurrencies, such as Bitcoin?

The California Fair Political Practices Commission, the state’s election watchdog, is set to consider just that when it meets at 10 a.m. on Thursday.

Cryptocurrency is a virtual, encrypted currency, not backed by any governmental body. It is produced by computer servers completing complex math problems and which is shared and tracked using a technology called blockchain.

Bitcoin and Dogecoin are examples of two popular cryptocurrencies.

The commission’s current policy, which dates back to 2018, prohibits candidates from receiving any kind of donation in cryptocurrency format.

“In adopting the current regulation, the commission expressed concerns about the traceability of cryptocurrency and how, as a result, cryptocurrency might be utilized to circumvent contribution limits and prohibitions, or by foreign entities to contribute to campaigns,” according to a staff report prepared for the commission.

Though it’s considered a volatile investment, cryptocurrency has exploded in popularity. Ads for it aired during this year’s Super Bowl.

California lawmakers are considering bills that would make cryptocurrencies legal tender when paying for government services.

As of April 7, there were more than 18,750 cryptocurrencies available, according to the staff report; that’s compared to the approximately 2,200in September 2018, when the commission last considered the policy.

According to a Pew Research Center survey, 16% of Americans say that they have invested in or otherwise used cryptocurrency.

The Federal Election Commission, the FPPC’s federal counterpart, currently permits donations of Bitcoin valued at $100 or less, though it prohibits…