Philanthropists cannot cash out Buterin's donations at SHIB

Charitable foundations cannot use Buterin's $ 1 billion donation in SHIB tokens.

HereinThe creator of Ethereum sent about $1 billion in SHIB to India's COVID-19 fund.To date, fund managers have managed to withdraw only $20 million fromof the entire amount. 

It is not easy for the fund to sell such a huge amount of tokens quickly. And after the dump of the SHIB price of the 50 trillion tokens that Buterin sent to charity, now they are worth about $ 400 million.

In addition, regulators require compliance with several acts when converting tokens into dollars and rupees. For the conversion of such assets, the funds must pay the tax portion of the transaction.

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Based on materialscointelegraph.com