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U.S. figure skating federation accepts Bitcoin

A year after announcing plans to accept Bitcoin donations, the United States Figure Skating has made it official.

It’s only a matter of time before another institution in the United States, namely U.S. Figure Skating, accepts donations in the form of digital currencies such as Bitcoin (BTC).

The U.S. Figure Skating Association said on Tuesday that it has entered into a partnership with the enterprise-level contribution platform Engiven to begin taking donations and gifts in bitcoin. In September 2021, the organisation first declared its intentions to accept bitcoin donations.

On the US Figure Skating website, Engiven’s platform is now accepting donations in major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE), as well as stablecoins like USDC and PAX Gold (PAX) (PAXG).

All major funds of the United States Figure Skating Association may now be gifted in cryptocurrency.” Gifts of bitcoin are tax deductible and can assist U.S. Figure Skating in developing programming for athletes, according to the association’s website.

As stated in a press release, Engiven automatically converts contributed bitcoin into the US dollar, then transfers the monies to US Figure Skating instantly. It’s “the first national governing body in the United States to accept gifts in several cryptocurrencies,” the release reads.

U.S. Figure Skating Executive Director Ramsey Baker said that the association continues to explore for new and innovative ways to fund its athletes, clubs, programmes and projects with the introduction of the donation choices. Baker.

“Allowing our supporters to give to U.S. Figure Skating using cryptocurrency makes sense in today’s quickly changing financial marketplace.”

U.S. Figure Skating’s ability to directly support its members and skaters will increase if there are additional routes for current and potential supporters, Baker said.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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