United States House Republicans' campaign arm of The US' National Republican Congressional Committee (NRCC),said that it will begin accepting donations in cryptocurrency.

The organization said it was the first national party committee to take contributions via cryptocurrencies like Bitcoin, which it said would help it support Republican candidates in next year's midterm elections.

"We are focused on pursuing every avenue possible to further our mission ... and retaking the House majority, and this innovative technology will help provide Republicans the resources we need to succeed," NRCC Chairman Tom Emmer said. Reportedly, the organisation has partnered with Bitpay which provides Bitcoin and cryptocurrency payment services. The crypto-donations will be converted into US Dollar before they reach the committee's account, NRCC spokesman Michael McAdams said.

The Federal Election Committee in 2014 approved a $100 value for transfers of actual cryptocurrency. McAdams said the NRCC would "accept all the same personal relevant information that we do with any other contribution up to the normal contribution limits."

Some US political candidates, including Emmer and also former presidential hopeful Andrew Yang, have earlier accepted donations via cryptocurrency

Meanwhile, the US Securities and Exchange Commission (SEC) has shown reluctance to accept cryptocurrency as several investment firms are pursuing a Bitcoin Exchange Traded Fund (ETF). The newly appointed SEC Chief Gary has already spoken about tougher regulations for cryptocurrency as reported by Reuters News Agency.

Countries world wide are trying to bring in more regulations and restrictions in the transaction of cryptocurrencies.