Cryptocurrency and charitable giving
29 June 2021 | Applicable law: US | 17 minute listen
More and more individuals and families have significant cryptocurrency investments and are looking to donate them as part of their charitable giving. Episode 12 of our Withers talks: cryptocurrency podcast, ‘Cryptocurrency and charitable giving,’ focuses on the interplay between cryptocurrencies and philanthropy. Podcast host, Charles Kolstad, is joined by Paul Roy, of counsel in Withers’ New Haven, Greenwich and New York offices, who focuses on US domestic and international tax and philanthropy, to discuss considerations for investors looking to donate cryptocurrencies to charitable causes.
You may have wondered, is it even possible to make gifts of cryptocurrencies? In this episode, our speakers affirm this question at the outset and explore related top of mind questions. What are some of the considerations for individuals and families looking to incorporate charitable giving into their estate plan? With anonymity being one of the tenets of cryptocurrencies, do charitable organizations need to disclose the donor’s information to the IRS? If you’ve have held crypto for a long time, are there certain charities in particular you should focus on for donations? Listen now to hear their answers and more. We hope you enjoy this episode.