Schmidt said the objection is fair but hypocritical, since candidates may already accept small cash contributions from a donor without reporting the donor’s name and address to the GAB.

Donors may give up to $50 in cash to a candidate. But only donors who give more than $10 – either in a single contribution or through multiple contributions – must disclose their names and addresses to the campaign.

At many fundraisers, donors can drop $10 in a hat for the candidate while retaining absolute anonymity. While names are not necessarily attached to Bitcoin transactions, every Bitcoin transfer creates a permanent electronic record.

“Bitcoins are infinitely more traceable than cash,” Schmidt told the Cap Times on Monday.

GAB spokesman Reid Magney said the agency is simply following its interpretation of the law.

“The law is clear as to what type of financial contribution is allowed,” he said. “If people have an issue with that, they should take it up with the Legislature.”