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UK Charities Offered Guidance for Accepting Crypto Donations
Nonprofits need to weigh the risk of volatility and hacks, and follow money laundering norms, the Charity Commission said.
Updated Apr 27, 2023, 3:10 p.m. Published Apr 27, 2023, 8:16 a.m.
English and Welsh charities accepting crypto donations should keep accurate records and comply with tax and money-laundering rules, the Charity Commission said in guidance published Wednesday.
The regulator warned charities that assets such as or non-fungible tokens (NFT) can be volatile, prone to hacks and hard to trace – and that they’ll need to weigh whether it’s worth accepting them at all.
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“Our guidance stresses the risks involved in the use of cryptocurrency, and advises trustees to exercise caution,” Helen Stephenson, the Commission’s chief executive officer, said in a speech also given Wednesday.
In a July 2022 blog, Commission Assistant Director of Policy Sam Jackson said that crypto could become a “more mainstream route to investing, trading, and moving assets,” citing fundraising successes using digital assets in Ukraine, and the U.K.’s own goal to become a crypto hub.
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The Commission, responsible for registering and monitoring nonprofits in England and Wales, in January said it was probing the Effective Ventures Foundation, which had received significant backing from Sam Bankman-Fried and his exchange, FTX, which filed for bankruptcy in November.
Read more: Why Crypto Philanthropy Continues to Outperform the Market
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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