Gifts of Cryptocurrency
As cryptocurrency profiles rise in the marketplace, your clients may have asked about the possibility of using crypto holdings as part of their giving plans. In many ways, advising clients on this topic is similar to advising clients on gifts of any highly-appreciated asset. The IRS has issued guidance for charitable gifts of cryptocurrency, including confirmation that the usual rules apply for a “contemporaneous written acknowledgment,” even though cryptocurrency is treated and reported by the charity as a non-cash gift.
The San Francisco Foundation currently accepts the following cryptocurrencies through our payment platform BitPay: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), 4 USD-pegged stablecoins (GUSD, USDC, PAX, and BUSD), and Ripple (XRP). If your client would like to donate other cryptocurrencies, please contact us to confirm if we can accept them. Contact us to learn more!