HMRC confirmed in sections 3.4.1 and 3.13.1 of Chapter 3: Gift Aid of its guidance notes that it does not consider cryptoassets to be currency or money, so any donation of cryptoassets will not be a qualifying charitable donation and therefore not eligible for Gift Aid.

HMRC's guidance says that money can be donated in cash or by cheque, direct debit, credit card, debit card, postal order, standing order or telegraphic transfer. Donations can be made in sterling or any foreign currency.

If cryptoassets are converted to ‘money’ then the converted ‘money’ can be donated to charity under the Gift Aid scheme, subject to normal qualifying conditions applying.

The donor must convert cryptoassets into ‘money’ before donating it to the charity and should bear in mind any personal Capital Gains Tax implications.