There is an opportunity for allowing any charity to accept donations of *any* token onchain.

Hypothetically, let's call this CoinStar 

1. Send any token to the CoinStar smart contract address for the charity

2. Smart contract automatically swaps the currency for USDC (may require multiple trades)

3. Longer term: make legal / tax argument that the realized value of the USDC can map back as a valid donation from the original party. I assume there are some existing rules why this doesn't work, but might be able to build a case to change it.

What are the best run charities that accept crypto currency? 

I want to donate all the coins that were randomly sent to me over the last few days (around $2 million)

Nikita Bier

There is an opportunity for allowing any charity to accept donations of *any* token onchain.

Hypothetically, let's call this CoinStar 

1. Send any token to the CoinStar smart contract address for the charity

2. Smart contract automatically swaps the currency for USDC (may require multiple trades)

3. Longer term: make legal / tax argument that the realized value of the USDC can map back as a valid donation from the original party. I assume there are some existing rules why this doesn't work, but might be able to build a case to change it.

https://x.com/nikitabier/status/1886136072779763976

Would this USDC conversion trigger a taxable event? 🧐

Idea is you give the original asset to the charity, they do the swapping

Afaik, in most jurisdictions, tax must be paid upon receipt unless a charity is somehow excluded. Changing current laws to allow this would be a good idea.