IRS confirms that cryptocurrency gifts to charity require appraisal

The IRS has issued a Memorandum from the Office of Chief Counsel that makes it more difficult for a donor to claim a charitable contribution deduction for a gift of cryptocurrency claimed to be worth more than $5000.  The Memo says a donor must obtain a full qualified appraisal from a qualified appraiser for the valuation and cannot rely on the exception to the appraisal requirement for publicly traded stock.