The United Way Worldwide (UWW) has decided to join "the digital currency world, announcing that it would begin accepting bitcoin donations," reports TheNonProfitTimes. "It is the latest 501(c)(3) to adopt the digital currency."
With a major charitable organization like the United Way accepting bitcoin, churches will quite possibly have congregants who want to give using digital currency—if it's not already happening.
"In order to transact business with bitcoin, the payor and payee must generally have virtual 'wallets' (accounts)," says Mike Batts in the March/April issue of Church Law & Tax Report. "Coinbase is one company offering such a service. So, in order to accept a contribution of bitcoin, a church would need to establish a bitcoin account and have the transfer made to that account."
To learn more about digital currency and its implications for charitable giving, see Batts's article "Can Someone Give to the Church Using Bitcoin?"
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