ARTICLE · 23 MAY 2022

A Note Of Caution For All Trustees Of Charities Over Crypto Legacies

Ellis Jones

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It is thought that 2021 saw the highest level on record of gifts to charity through crypto currency.

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It is thought that 2021 saw the highest level on record of gifts to charity through crypto currency.

Whilst this gifting may represent a trend towards more people using crypto day to day, or the early financial successes of crypto investing, it must also come with a warning. We are still in the early stages of understanding when it comes to crypto, with The Charity Commission, HMRC, the FSA and the SRA all trying to get a handle on and keep up with this ever evolving financial landscape.

Charity trustees must be confident that firstly they know the source of the donation and secondly have sufficient safe guards and processes in place to deal with the crypto once it is in their possession.

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