U.S. Breast Cancer Organization to Accept Bitcoin and Ethereum Donations
https://ift.tt/3AbO8Se
U.S. breast cancer organization Susan G. Komen has announced that it will be accepting cryptocurrency donations in its fight against the disease.
Komen noted in an announcement today that it has partnered with The Giving Block, an online platform that allows non-profit organizations and charities to accept donations in cryptocurrencies, for the initiative.
Commenting on the development, Paula Schneider, president and CEO of Susan G. Komen, said:
“We are excited to welcome donors who want to support the mission of Susan G. Komen to end breast cancer through cryptocurrency and appreciate the partnership with The Giving Block to make this possible.”
Per the announcement, the breast cancer organization will be accepting more than 70 cryptocurrencies from donors, which includes bitcoin, ether, SHIB, DOGE, bitcoin cash, litecoin, etc.
Notably, people who make donations in cryptocurrencies to the fight against breast cancer will be given tax receipts by Komen.
“Today, hundreds of millions of people use cryptocurrency. And with an average gift size of nearly $11,000, nonprofits who prioritize crypto donors are getting ahead,” Pat Duffy, co-founder of The Giving Block, said.
Susan G. Komen is a nonprofit breast cancer organization launched in the United States that is committed to ending global breast cancer while saving lives in the process.
The organization advocates for breast cancer patients globally via high-quality research and the provision of relevant information and care that will aid in the fight against the disease.
Donors to Pay Reduced Tax
In the past, the issue of taxation has been a major problem for high net worth donors as they are mandated to pay a heavy tax when they make huge crypto donations.
However, Giving Block, in an announcement last month, launched a service in collaboration with Taxbit to reduce individual and institutions tax exposure whenever they donate large amounts of cryptocurrencies.
Charities Accepting Cryptos
With cryptocurrency popularity still gaining momentum, several nonprofit organizations and charities have opted to accept the asset class from donors. UNICEF is one of the organizations accepting cryptocurrency donations, in its effort to fund open source technology that will be beneficial to children and young people globally.
Cryptocurrency
