UK Charity Commission Issues Guidance on Cryptocurrency Acceptance for Charities

UK Charity Commission Issues Guidance on Cryptocurrency Acceptance for Charities



UK-based charities that accept cryptocurrencies must maintain accurate records of their income and adhere to tax and money laundering regulations, according to guidance published on April 26, 2023, by the UK Charity Commission. The regulator cautioned charities about the risks associated with dealing with cryptocurrencies such as Bitcoin (BTC) and Non-fungible tokens (NFT), which are volatile and difficult to trace. Helen Stephenson, the Commission's CEO, advised trustees to exercise caution when considering accepting such assets as payments or donations.



Although the Commission's Assistant Director of Policy, Sam Jackson, previously identified crypto as a potential mainstream route for investing, trading, and moving assets, it warned charities to carefully consider their exposure to risk before accepting crypto assets or NFTs. The


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