Department store gift vouchers, stocks, and loyalty points from tech giants can be donated to charities, but not crypto.
Digital currencies have been excluded from newly amended donation legislation in South Korea which could be a blow to the country’s charities and donation drives.
On May 5, local media outlet Kyunghyang Shinmun reported that the Ministry of Public Administration stated that some amendments to South Korea’s “Donations Act” have been filed but restrict the use of crypto assets for donation.
Starting in July, those wishing to donate to charitable organizations or causes will be able to use various new methods such as department store gift vouchers, stocks, and loyalty points from Korean internet giant Naver, but not crypto assets such as Bitcoin (BTC).