One of Africa’s biggest wildlife conservancies, the Virunga National Park, which is situated in the Democratic Republic of Congo (DRC), says it now accepts donations via cryptocurrency. It says such donations will be used in helping to protect DRC’s famed “mountain gorillas and the ecosystems they inhabit.”
Tax Efficient Way to Support Virunga
In a statement recently published on its website, Virunga, which is home to one of Africa’s “oldest national park and most biologically diverse protected area,” says it will initially accept donations in the form of 12 cryptos. Some of the accepted cryptos include BTC, BCH and ETH. The statement also explains why well-wishers should consider donating via crypto. It reads:
In many countries, donating cryptocurrency is classed as a non-taxable event, meaning you do not owe capital gains tax on the appreciated amount and can deduct it on your taxes. This can make bitcoin, ethereum and other cryptocurrency donations one of the most tax-efficient ways to support Virunga National Park.
Nevertheless, Virunga National Park, a UNESCO World Heritage Site internationally recognized for its exceptional wildlife and habitats, still urges well-wishers to consult tax professionals before donating.
Why Crypto Donations
In the meantime, the statement also shares some of the considerations that motivated Virunga to opt for crypto donations. For instance, the park acknowledges that “many people invested in cryptocurrencies exhibit an affinity for the natural world and a strong sense of social justice.” Therefore, by accepting donations in crypto, Virunga has now made “it easier for tech-minded, eco-conscious individuals to directly donate cryptocurrency to Virunga in a tax-efficient way.”
Still, Virunga assures well-wishers that crypto donations will be used in much the same way as conventional donations. This means cryptocurrencies will now be used to conserve Congo’s mountain gorillas and the park’s rich biodiversity. The donations will also support sustainable development projects, such as the building of renewable energy sources. Also, just like fiat money, crypto donations will “ensure the continued presence of Rangers, the guardians of the Park’s long-term survival.”
What are your thoughts on Virunga’s decision to accept crypto donations? Tell us what you think in the comments section below.
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Source : Bitcoin