Crypto Donations to Charity Falter on Fuzzy Tax Rules, Value Dips

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A tiny button in the middle of the donation webpage for Back Bay Baptist Church encourages patrons to make tax-deductible contributions in cryptocurrency. Hardly anyone has used the button in more than a year.

There are good reasons why the button has been largely ignored since late 2021 when the Gulfport, Miss., church became the first congregation in the Southern Baptist Convention to accept Bitcoin, Ethereum, USD Coin, and other virtual currencies. The donation process is complicated. Most churchgoers haven’t even heard of cryptocurrency, and some fear it. One woman told Pastor Adam Bennett that Bitcoin is the “mark of the beast,” a biblical allusion to the antichrist.

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