Give Crypto

Cryptocurrency is a type of digital or virtual asset used online. Ownership and transactions of cryptocurrencies are made using encrypted code across a large, distributed computer network, rather than through a central banking authority.

Millions of people in the UK own some form of crypto-asset and this is expected to grow. Donations of cryptocurrencies are also increasing as a way for these owners to give tax efficiently to causes they care about. To make sure our communities benefit, and to support generous donors from all walks of life, we have updated our policy to also accept cryptocurrency through a third-party platform – The Giving Block. This aligns us with many other UK charities who are using this approach to accepting crypto-donations, though we are the first community foundation here to do so.

The Giving Block is a leading US-based platform for charities from across the world to accept cryptocurrency, and for donors to give crypto to their favourite causes. It is used by 2,300 charities, over 30 of them in the UK. They include Alzheimer’s Research, British Red Cross, Diabetes UK, Movember and, in North East England, the Children’s Heart Unit Fund (CHUF). The Giving Block also works with many community foundations in the US. Having it as our partner means we will never directly hold crypto, rather the cash equivalent of donations.

For the full list, go to The Giving Block website by clicking here.

As is usual with online giving platforms, The Giving Block applies a small fee to crypto donations we receive. The total fee it retains on gifts to us depends on the monthly donation volume but does not exceed 4% of the value of your donation.

We need to know who our donors are and where donations come from to make sure we’re fundraising in line with UK charity regulation. While it is possible for a charity to accept small anonymous gifts, to manage risks associated with crypto we have decided at this stage that we must have basic details for all crypto donations.

Currently crypto donations are not eligible for UK Gift Aid.

Under UK charity law we are not permitted to refund donations, other than in very specific circumstances. Our Gift Acceptance and Stewardship policy also sets out that all donations are irrevocable. If you have any issues with your donation of crypto, please contact us.

There are no legal restrictions on accepting crypto-currencies. Although crypto-assets are not formally regulated, the UK Financial Conduct Authority (FCA) is responsible for ensuring third-party crypto firms have anti-money-laundering and terrorist financing processes in place. The Charity Commission and HMRC have issued guidance on handling of crypto-currency which the Community Foundation is following. The principal way we are avoiding risk is by working through an established and reputatble third-party platform. The Giving Block is part of Shift4, a New York Stock Exchange-listed e-commerce and global payments business. Back-end functions are supplied via Gemini which is authorised and regulated by the FCA.

Environmental concerns have been expressed about the energy needed to support crypto’s digital infrastructure. But not all cryptocurrencies depend on large amounts of energy to run. And traditional banking and computing are also energy intensive. The Community Foundation itself will not hold or invest in crypto.