A federal judge found in March that a Federal Election Commission ruling that allowed groups to air "electioneering communications" - ads broadcast close to elections that do not explicitly call for voting one way or another - while keeping their donors anonymous violated campaign finance statutes.
Groups that are appealing the March decision had asked the appeals court to stay the decision, but on Monday the court denied the motion.
Advocates for campaign finance transparency praised the decision. "This is a huge victory for voters, for disclosure, and for democracy because Americans deserve to know who is trying to buy results in our elections," Campaign Legal Center president Trevor Potter said in a statement.
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