South Korea updates Donations Act, excluding cryptocurrencies as donation method.
South Korea's updated Donations Act excludes cryptocurrencies like Bitcoin as a donation method, despite a global trend of charities accepting digital assets. The law now allows donations in the form of department store gift cards, stocks, and loyalty points from tech giant Naver, but not crypto. This move may limit donations for South Korean charities as crypto donations internationally are expected to reach $2bn by 2024.
May 06, 2024
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