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IACAD launches crypto donation service for Dubai charities

3 min read
Dmitry Kozlov
IACAD launches crypto donation service for Dubai charities

Key Takeaways

  • 1 IACAD launched a service that allows charities in Dubai to accept cryptocurrency and other virtual asset donations.
  • 2 The department has issued policies for fundraising through virtual assets to protect donors and ensure accountability.
  • 3 Training workshops have been held to help charities adopt the operational requirements for accepting crypto.
  • 4 Charitable organisations can apply for preliminary authorization to receive crypto donations.
  • 5 Save the Children recently created a bitcoin fund, illustrating a parallel trend among international NGOs.

Dubai’s IACAD now enables charities to receive cryptocurrency and virtual asset donations, with issued policies, training workshops and a process for preliminary authorization.

Dubai’s Islamic Affairs and Charitable Activities Department (IACAD) has rolled out a service that enables charities in the emirate to accept donations in cryptocurrency and other virtual assets. The launch comes with formal policies aimed at governing fundraising via virtual assets, with the stated purpose of protecting donor funds and ensuring accountability. IACAD also organised training workshops and opened a route for charitable associations and institutions to apply for preliminary authorization to carry out crypto fundraising.

IACAD’s Initiative for Crypto Donations

The initiative establishes a regulated option for donors who prefer to give in cryptocurrency, positioning approved charities to receive virtual-asset gifts within a supervised framework. IACAD emphasised governance and transparency in its public statements, saying the new policies are intended to guarantee accountability and protect donors. Mohammed Musbeh Dhaahi, IACAD’s executive director of the charitable work sector, described the move as a qualitative step that supports innovation in the emirate’s charitable ecosystem.

Policies and donor protection

IACAD has issued clear policies that set rules for fundraising via virtual assets and outline the regulatory procedures charities should follow. These policies are presented as safeguards for donors and mechanisms for accountability, forming the basis for preliminary authorisation and ongoing oversight. By specifying operational expectations and governance measures, the department aims to deliver crypto donations through approved, traceable channels.

Implementation and Training

To prepare charities to receive crypto, IACAD organised training workshops addressing operational requirements. These sessions are meant to help organisations adapt accounting and receiving processes for virtual-asset donations while complying with the department’s policies. Charitable associations and institutions in Dubai can apply for preliminary authorisation to use the service, which is intended to ensure fundraising happens in a regulated environment.

Global Context and Impact

Dubai’s step mirrors broader moves among humanitarian organisations to accept cryptocurrency; for example, Save the Children created a bitcoin fund as part of efforts to diversify donor channels. Both initiatives underline how charities are exploring blockchain-based options to expand access to donors and to enable traceable transactions. The move also contributes to Dubai’s innovation landscape, alongside other local projects such as tokenization initiatives in the emirate.

Почему это важно

Если вы майните в России и рассматриваете донаты криптовалютой за границу, важно понимать, что теперь в Дубае есть официальный путь для таких пожертвований: IACAD ввёл сервис, политики и процедуру предварительной авторизации. Это значит, что при переводе средств стоит отдавать предпочтение благотворительным организациям, которые получили разрешение и работают в рамках требований департамента. Наличие обучающих воркшопов указывает на то, что принимающие организации получают инструкции по работе с виртуальными активами, что снижает риск операционных ошибок и потери средств.

Что делать?

  • Проверьте, имеет ли выбранная благотворительная организация предварительную авторизацию от IACAD или документы, подтверждающие соблюдение заявленных политик.
  • Используйте только официальные, согласованные каналы при перечислении криптовалюты и запрашивайте подтверждение приёма средств — это поможет сохранить прозрачность и отслеживаемость операций.
  • Уточните у организации, как они ведут учёт виртуальных пожертвований и какие документы выдают донору для отчётности.
  • Если вам важны налоговые или регуляторные аспекты передачи криптовалюты, ознакомьтесь с релевантными материалами о налогообложении и правилах для майнеров и трейдеров, например о недавних изменениях в законодательстве и регулировании.

В целом, нововведение IACAD расширяет варианты для доноров и делает процесс приема криптовалюты более формализованным. Даже если вы майните небольшими мощностями, проверка авторизации и получение подтверждений при пожертвовании помогут избежать проблем с прозрачностью и учётом.

Frequently Asked Questions

What did IACAD launch?

IACAD launched a service that allows charities in Dubai to accept donations in cryptocurrency and other virtual assets.

How does IACAD protect donors?

The department issued policies governing virtual-asset fundraising to protect donor funds and ensure accountability, and it offers a preliminary authorization process for charities.

Were charities trained to use the service?

Yes. Training workshops were held to guide charities through the operational requirements of accepting crypto donations.

How does this compare internationally?

The initiative is similar to moves by NGOs like Save the Children, which launched a bitcoin fund, reflecting a trend toward accepting cryptocurrency donations.

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