Non profits in Hawaii Accepting Crypto Donations

What is happening? The IRS permits donations to non-profits in the form of crypto currency. The non-profit then immediately converts the crypto into dollars upon receipt to provide the tax benefit at the time of the donation.

Why is this important? Hawaii has a pilot program that helps Hawaii businesses use digital currency. Since the pilot program began in 2020, the program assisted with more than 800 million dollars in crypto-transactions.

How will this be important? Hawaii Governor has a bill on their desk that would license crypto currencies.

KITV 4 Hawaii | Many Hawaii non-profits are accepting crypto currency donations