Overview
Decrypt quoted Lisa Zarlenga in an article titled "IRS 'Clarification' Could Discourage Crypto Donations, Says Head of Crypto Charity Platform." The article, published January 3, discusses how the IRS updated its FAQ to clarify that donors who give more than $5,000 in cryptocurrencies to charities must have their donations appraised.
Zarlenga tells Decrypt that there aren't that many appraisers who are qualified to appraise cryptocurrency—even if all the appraiser does is use the exchange rate value. "That will make it more difficult for taxpayers to make donations of cryptocurrency in excess of $5,000," she says. But the IRS isn't coming up with new rules; through the FAQ, the IRS simply provided clarification of what's already there.
The full article can be read at Decrypt.
