Graphic by Todd Wiseman

Following in the footsteps of U.S. Rep. Steve Stockman and the Libertarian Party of Texas, Attorney General Greg Abbott announced Thursday that his campaign would accept campaign donations in Bitcoin, a virtual currency.

“The spirit of Bitcoin embodies the free market principles that make Texas a leader in innovation and entrepreneurship,” Abbott said. “We welcome the Bitcoin community to join our team.”

The Texas Banking Commission announced last week in a memo that it would not treat virtual currencies like Bitcoin as legal money, but rather as an asset. The IRS made a similar determination last month. As such, Abbott’s camp said it would treat Bitcoin donations as in-kind donations.

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Aman Batheja was a political reporter and editor for the Tribune from 2012 to 2019. Previously he worked for eight years at the Fort Worth Star-Telegram, most of that time covering state and local politics....