US presidential candidate accepts Bitcoin donations with Lightning Network

Supporters of the US presidential candidate from the Democratic Party, Andrew Young, launched the independent political actions committee of the Humanity Forward Fund, realizing in particular the possibility of bitcoin donations from Lightning wallets.

Technical integration of the solution was made possible through the OpenNode payment service.

The committee, of course, wants to receive donations of the maximum size. But now the opportunity to support his candidate appeared and people who want to donate small amounts. This will allow to direct all funds to the actual donation, and not to redeem the commission of the miners, said Afnan Rahman, CEO of OpenNode.

According to representatives of the Humanity FWD, donations will be accepted exclusively in Bitcoins for 21 days after the launch of the committee. After this, it will be possible to support Young with fiat means.

At the same time, whether the Humanity FWD will store the received bitcoins or immediately convert them into Fiat, they have not yet decided in the committee.

The potential earnings or loss of funds received are fraught with additional regulatory difficulties, said Seth Cohen, founder of Humanity FWD.

He also stressed that the OpenNode commission of 1% is much lower than similar fees for processing services processing credit card transactions.

It is worth noting that one of the promises of Andrew Young, who is running for the US presidency, is “promoting legislation that provides clarity” for cryptocurrencies.

Recall Young became the first participant in the 2020 race, who proposed a specific policy on cryptocurrencies. In particular, he intends to contribute to determining the status of a token [with recognition of the existence of utility tokens], powers of federal agencies, ensuring consumer protection in the field of cryptocurrency, developing a clear tax policy and creating a unified regulatory framework.

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