Costa Rica’s Supreme Electoral Tribunal (TSE) has greenlit a tightly controlled pilot allowing political parties to accept cryptocurrency donations principally Bitcoin (BTC), Ether (ETH), and USD Coin (USDC) as in kind contributions under strict transparency rules.
Parties must register a single, unique wallet per approved asset with the Department of Party Financing, value the donation at receipt, convert it into colones within five business days, and deposit the proceeds into their official bank account, ensuring rapid movement from on chain funds to the formal banking system. Every crypto gift enters the same public registry that already discloses money and in kind donations, marrying blockchain traceability with established electoral reporting.
Treasurers carry the operational load documenting valuation, counterparties, and conversion steps while donors should expect eligibility checks and identity verification (“crypto in, transparency out”). Strategically, the pilot timed ahead of the next election cycle seeks to expand and modernize donor rails (including Costa Ricans abroad) without sacrificing auditability, but it also highlights risks like volatility, custody lapses, and compliance gaps that could carry reputational costs if mishandled. Watchdogs should track conversion speed, reporting completeness, and custody hygiene to judge success.
If the model performs, authorities may broaden the asset list, codify standardized valuation references, and link transaction hashes directly to registry entries; if it falters, they can pause or tighten controls. Net-net Costa Rica isn’t “going crypto” wholesale it’s testing a guardrails first framework that could become a regional blueprint for funding innovation with accountability.