US-based voluntary organization Lupus Foundation Of America said it started accepting donations in five cryptocurrencies – Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC).
The Foundation will accept cryptocurrency donations online and also at fundraising events such as the upcoming ‘2018 Night of Hope Gala’ on November 10, at Mason Fine Art and Events in Atlanta, Georgia to raise funds for providing programs and services for the 55,000 Georgians living with lupus disease.
The move will enable supporters of the Lupus Foundation having cryptocurrency portfolios to donate in a tax efficient way as the U.S. Internal Revenue Service (IRS) classifies cryptocurrency donations as property, which is not subject to capital gains tax and is fully tax deductible.
Lupus Foundation is looking to expand into accepting more cryptocurrencies and explore the ways of leveraging blockchain, the underlying technology of most cryptocurrencies. The Foundation will be working with blockchain consulting firm The Giving Block towards this.
Lupus is a chronic autoimmune disease that can damage any part of the body such as the skin, joints, blood cells, and/or organs when your body’s immune system attacks your own tissues and organs. More than 16,000 new cases of lupus are reported each year across the U.S.
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