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Without a Fix, New Crypto Broker Rules Could Impact Charitable GivingWithout a Fix, New Crypto Broker Rules Could Impact Charitable Giving

Congress needs to address unintended consequences.

Sandra G Swirski, Founder

November 22, 2022

1 Min Read
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In October, the Treasury Department signaled it intends to release a proposed rule this year to recalibrate legislation set to take effect on Jan. 1, 2023 that would greatly increase the number of people considered brokers for tax reporting purposes.

This expanded definition could add onerous tracking requirements to a wide swath of the digital asset sector, potentially including those that help nonprofits accept crypto donations. While lawmakers have floated legislative fixes, none have advanced far enough to solve the problem. 

Overly broad rules and intrusive surveillance could turn people away from this emerging asset, make it more difficult for companies to help nonprofits process digital asset donations and complicate the issue for donors wishing to remain anonymous, all of which could hurt giving.

To further understand why it’s important that Congress and Treasury Department officials address these unintended consequences, see New Crypto Broker Rules Could Inadvertently Impact Charitable Giving.

About the Author

Sandra G Swirski

Founder, Integer, LLC

Trusted executive, thought leader, and expert. I sit at the intersection of policy and philanthropy, and leverage my savvy, coalition building expertise, and deep industry knowledge to build solutions and progress for those I work with. I am also the founder of Integer, a women-owned government relations firm.

I have demonstrated expertise in collaborating with both major political parties to accomplish client goals.  My expertise comes from years on Capitol Hill working for seasoned Members of Congress and leading government relations teams for companies and clients in the private sector. 

I serve as a Board Member of Exponent Philanthropy, Member of the Philanthropy Editorial Board of Trusts and Estates as well as an Advisory Council Member of Engage, a bipartisan women's organization that promotes economic security for all American women. I am also a frequent speaker and author, providing insightful analysis of breaking financial issues and policy trends to watch for in Washington. I often publish with CEOWorld magazine on these insightful topics to provide my expertise to the public.