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The Legality of Accepting Crypto

Yes, it's legal, and we'll briefly explain why

Matt Herringshaw avatar
Written by Matt Herringshaw
Updated over 3 years ago

It is lawful for a nonprofit to accept a donation in the form of a cryptocurrency. On March 2014, the United States Internal Revenue Service (IRS) ruled that Bitcoin and virtual currency are treated as property for tax purposes (IRS Notice 2014-21).

This is good news for both donors and donees. To understand the tax benefits of cryptocurrency donations, check out this article.


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