Crypto Donations Rebound as Market Gains and Tax Incentives Entice More Giving
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Crypto donations rebounded this year after struggling in 2022's bear market, with crypto gift sizes increasing as donors "wake up" to market gains.
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Regulatory frameworks boost confidence in crypto markets, driving prices up and increasing likelihood of traditional institutions investing - both help crypto philanthropy.
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Donors can write off full crypto donation value and avoid capital gains tax by donating appreciated crypto directly to 501(c)(3) charities.
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Giving Block submitted response to Senate Finance Committee in September seeking tax clarity around digital assets to help nervous nonprofits.
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Crypto companies should partner with charities in 2024 and beyond to showcase ecosystem's social value to Capitol Hill beyond profits.