BX3 joins Accounting Blockchain Coalition

BX3, a business advisory firm focusing on the blockchain and cryptocurrency industry, has joined the Accounting Blockchain Coalition, a group dedicated to educating businesses and organizations on accounting matters relevant to digital assets and distributed ledger technology, including blockchain. Issues surrounding cryptocurrency have come to the forefront as more individual and business clients seek help from accountants to manage those assets.

TheABC also provides educational information and materials to the broader accounting industry on changes and updates to information regarding digital assets and distributed ledger technology.

BX3 staff bring years of experience across investing, tax, consulting and marketing to the table to help clients in the blockchain space develop and sustain their business. The firm aims to use its knowledge base in U.S. and international tax and accounting compliance to ensure the blockchain community has the necessary toolkit for continued success amid an ever-changing regulatory framework.

The ABC aims to bring together a cross-sector, cross-industry, member-driven knowledge base and work real time on issues impacting the accounting profession regarding digital assets and distributed ledger technology. To do this, the ABC has created an infrastructure, including four working groups, that allow for collaboration and publication of best practices. The groups cover auditing and accounting, internal control, regulatory compliance, and taxation; each group is led by an accountant from a member firm.

“We are incredibly excited to join the ABC,” said Adnan Akhand, vice president, accounting and compliance at BX3, in a statement. “ABC is helping guide the rulemaking that will bridge the financial world to the new economy. Until the world fully adopts decentralized verification, it remains an important component of systemic trust that accurate financial and tax reporting can be completed in a manner that existing regulatory and governmental entities, as well as investors, recognize.”

There are three levels of membership to the ABC. A charter membership costs $10,000, and provides privileges such as the ability to nominate company reps for seats on the board of directors and have prominent listing on the ABC website and promotional materials. A promoter membership costs $5,000, and associate memberships is $2,000. For more information, visit https://accountingblockchain.net/become-a-member/.