Bitcoin

As cryptocurrency mining continues to grow in popularity, accountants must learn better strategies to serve this growing niche.

For many issues that clients will run across, practitioners are on their own.

Cryptocurrency has taken over the public imagination. How will this affect accountants?

PricewaterhouseCoopers LLP has added cryptocurrency auditing to its list of services as the firm expands into an asset class that is steadily adopting the accoutrements of traditional finance.

Both asset holders and practitioners have to educate themselves on the tax and recordkeeping rules around cryptocurrencies.

From lessons learned in tax season, the blockchain accounting and tax software provider has released several upgrades to its cryptocurrency reporting software, Balance.

EY has announced a significant investment into its Blockchain Analyzer product, as well as, separately, the release of its zero-knowledge proof (ZKP) private transaction protocol into the public domain.

The second iteration of the Token Taxonomy Act, released on April 9 and hereinafter referred colloquially as “2.0,” is Congress’ latest product aimed at recognizing and defining a new asset class derived from blockchain technology.

The Internal Revenue Service treats crypto money as a capital asset like stocks or property, not as a currency.

Based on cryptocurrency tax guidelines specified by IRS, anyone making cryptocurrency profits has to pay taxes.