South Korea’s charities urge one-click crypto donations to simplify giving
South Korean charities say cryptocurrency donations offer convenience but are hampered by a cumbersome, multi-step process that discourages donors. To donate crypto now, individuals must call the charity, complete a detailed form, await anti-money-laundering review, receive a wallet address and donate a specified coin amount (not a fiat value). Donated coins must be listed on at least three major Korean exchanges (Upbit, Bithumb, Korbit, Coinone, Gopax). Because donations are measured in coin units (e.g., 0.01 BTC), price volatility can change the donation’s fiat value and requires restarting the process to adjust amounts. Charities typically convert received crypto to cash within two days; donations qualify for the same tax deductions as cash. Despite South Korea’s more than 10 million crypto investors, most donors sell crypto and give cash for speed and simplicity, making direct crypto gifts rare—Fruit of Love, Korean Red Cross and Seoul National University Hospital each reported single 1 BTC gifts last year. Charities are calling for a one-click donation feature integrated into exchanges to boost uptake, mirroring simpler frameworks in the US, Europe and Dubai where crypto giving has grown. Key keywords: crypto donations, one-click donations, South Korea, exchanges, AML review, donation tax deduction.
Neutral
The news is neutral for market direction. It highlights operational and regulatory frictions that limit cryptocurrency donations in South Korea and a demand from charities for an easier, one-click donation flow integrated into exchanges. This development is primarily structural and adoption-focused rather than a catalyst that would materially shift price fundamentals for major cryptocurrencies. Short-term market impact: minimal — the story is unlikely to trigger immediate buying or selling since donations to date are small (single BTC gifts reported) and charities convert donations to cash quickly, reducing market exposure. Traders should expect negligible liquidity effects. Long-term impact: mildly positive for adoption if exchanges implement one-click donation tools and regulatory frameworks remain supportive — increased institutional or retail donation channels could marginally broaden use cases and on-chain transactions, supporting gradual demand growth. Historical parallels: similar adoption signals (e.g., U.S. charities and large NGOs accepting crypto) have supported narrative-driven interest but did not by themselves produce sustained price rallies. Monitor: exchange product announcements, regulatory guidance on crypto donations and tax treatment, and any large-scale institutional charity campaigns — these would be the events most likely to shift market sentiment or volumes.