Overview
Bloomberg Government quoted Lisa Zarlenga in a November 12 article titled "Nonprofits Seek Fresh Crypto Tax Rules to Lure New Donors." As interest in payment through cryptocurrency continues to grow, the nonprofit sector is exploring the idea of embracing crypto donations despite the tax related obstacles.
"One driving force behind the pursuit for agency input is the lure of accessing a new pool of benefactors. Accepting cryptocurrency could be a tool to reach donors that don’t have as much cash on hand, but may have stashes of cryptocurrency to donate," says Zarlenga.
“Nonprofits are looking to tap into a "whole new generation of donors, potentially, that may not be cash-rich but crypto-rich, and to enable them to be able to give," adds Zarlenga.
The full article can be read at Bloomberg Government (subscription required).
