Charity Commission of England and Wales: "Cryptocurrency contributions are too risky" – Bits Media

Assistant Director of the British and Wales charity commission urged the trustees of British funds to be careful when working with cryptocurrencies.

Samuel Jackson (Samuel Jackson) Published an article, in which he warned charity organizations about risks of accepting digital assets as donations, Since it is unclear, how crypto acts will develop in the future. The assistant director advised the trustee of funds, those who want to "plunge" into the world of cryptocurrencies, thoroughly ponder your decisions, To avoid problems with regulators.

According to Jackson, Now only a few charity organizations in the world accept cryptocurrencies. They are forced to do this due to the lack of access to banking services. However, some consider the possibility of gaining the benefit of receiving cryptocurrencies.

“We want to help promote innovation. Charity organizations should think, what they need to better fulfill their tasks. They should not get involved in crypto actures, After all, we do not know about all the risks, which digital currencies can hide in themselves ", - writes Jackson.

Using blockchain technology, on the basis of which crypto acts function, implies anonymity. It is better to refuse to use cryptocurrencies, Until in the UK there is no clarity in the regulation of the cryptocurrency industry, Jackson is sure. A prolonged decline of cryptorrings quite justifies such a cautious approach, The assistant director of the commission believes.

Earlier, the commission announced, that at the end of the year it is going to draw up a guide for charitable organizations, accepting cryptocurrencies as donations.

“If philanthropists have any problems, We will have to intervene. We will have to check, that institutions have fulfilled their legal obligations, without exposing and reputation unjustified risk ", - writes Jackson.

In May, Chairman of the British Financial Supervision Department (FCA) Charles Randell (Charles Randell) also doubted the legality of digital assets, which, In his opinion, have no internal value.