Cryptocurrencies are on the rise – but are they friends or foes for accountants? We present complementary views from business and scholarly perspectives.
Blockchain and cryptoassets articles
Read our latest features and articles on blockchain and cryptoassets such as cryptocurrencies and Non-Fungible Tokens (NFTs).
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The OECD released a public consultation document looking at two areas to improve the automatic exchange of financial account information between the tax authorities of different jurisdictions.
In the seventh instalment of Anti-Money Laundering: The Basics, IFAC and ICAEW look at the risks associated with virtual assets.
Regulating the unregulated: How the FCA plans to clamp down on cryptocurrency advertising
The FCA has found a way to control how cryptocurrencies reach consumers.
Fintech academic and chartered accountant Gavin Brown examines nation states’ love-hate relationship with cryptocurrencies and outlines how attempts to control them may drive citizens into the arms of such decentralised currencies.
Choosing the best cloud accounting apps for your business
Many apps are now accessible through the cloud for accountancy businesses and individual practitioners, but what makes them click? Brian Cantwell explores the right tools for the job.
The implications of digital assets for the accountancy profession
Accountants are increasingly encountering cryptocurrency and other cryptoassets, and ICAEW is supporting them on this, says Lesley Meall.
HMRC has sent letters encouraging holders of cryptoassets, such as Bitcoin, to consider their capital gains tax position, but stops short of sending them to non-UK domiciled individuals.
While cryptoassets are growing in popularity, there is a lack of specific guidance on dealing with the issues around them, including over-reliance on blockchains, ownership of cryptowallets and even criminal dealing.
Bitcoin the financial reporting challenge for investors
Why the accounting for cryptocurriencies isn't helping investors and is it time for standard-setters to act?
Crypto investor brands most NFTs worthless after bubble begins to deflate
Bitcoin and cryptocurrency prices have been on a roller coaster over recent months, surging to never-before-seen highs before crashing back.
Fintech academic and chartered accountant Gavin Brown examines the advancements of the volatile crypto market and outlines what may lie in wait for accountants managing such decentralised currencies.
Is crypto now inevitable
Bitcoin has drawn mainstream financial interest, but will it establish itself as a legitimate asset class, asks Billy Bambrough.
Fintech academic and chartered accountant Gavin Brown examines the impact of Tesla’s decision to hold bitcoin as a treasury asset on its balance sheet, both for the company itself and the wider cryptocurrency market.
Blockchain technology offers continuous, real-time accounting, makes fraud more difficult and will be a valuable tool for all stakeholders. Alexis Nicolau argues its importance for the audit profession and its future.
Can bitcoin make it as a mass-market digital payment
Writing for the Financial Services Faculty, journalist Billy Bambrough examines the case for bitcoin as a major payment provider.
14 January 2021: Writing for the Technology and Financial Services Faculties, journalist Billy Bambrough examines the case for bitcoin as a major payment provider.
Blockchain moves into the mainstream
Blockchain often tops the rankings of website faculty hits, so what’s going on? Lesley Meall explores some recent developments, trends and challenges.
20 November 2020: In these challenging times, all bets are off when it comes to the structure of our post-COVID economies.
16 November 2020: The Chancellor has set out the government’s plans to make the UK a world-leader in green finance and financial technology.
9 November 2020: In light of the ongoing US election controversy, fintech academic and chartered accountant Gavin Brown predicts the implementation of new blockchain-style voting methods, giving us incontestable results in hours rather than days or weeks.
30 October 2020: Cryptocurrencies represent the real-world implementation of Nobel Prize-winning economist Friedrich Hayek’s thesis for monetary systems, writes Stephen Lynch.
ICAEW member Alexis Nicolaou says blockchain is forcing accountants to evolve, get clued up and jump on board with the fourth industrial revolution.
11 June 2020: with the US Congress debating the use of Digital Dollars to help its ‘unbanked’ citizens through coronavirus, could we see Digital Pounds this side of the Atlantic?
Getting to grip with the growth of cryptocurrency
The growing popularity of cryptocurrencies means auditors need new skills and knowledge in that area, says David Lyford-Smith.
HMRC’s guidance on taxing cryptoassets
Michelle Robinson of Deloitte examines HMRC’s guidance for businesses that undertake transactions involving exchange tokens, including the scope of HMRC’s guidance, its approach to taxation of cryptoassets, company taxation, venture capital schemes and VAT, among other things.
Our regular round up of legal and regulatory changes
Tiptoeing through cryptocurrency
Following FCA guidance, firms must tread carefully when dealing in crypto-assets, says Suchitra Nair
The future of digital currency
Rob Haynes takes a look at what is in the stars for emerging cryptocurrencies such as Libra, and considers the finance industry
The rise of the cashless society
Facebook has entered the digital currency game, but the alarm bells are ringing, writes Leo Waldock.
New kids on the blockchain
Business owners spend a lot of time eyeing new technologies to ensure their practices don’t get left behind.
Exploring cryptocurrency Facebook’s Libra
Philippa Kelly explores Facebook’s planned foray into financial services and examines five things we don’t know about Libra
Blockchain and cryptoassets in entertainment sport and media
In a world where technology is constantly evolving, many accountants may not be aware of the potential threats and opportunities this poses to their profession.
The uncertainties surrounding cryptocurrency
It has become a craze in recent years, yet, few understand the risks and opportunities that cryptocurrencies such as Bitcoin present. Here, John Mongelard provides a useful insight into cryptocurrency
Building the future
Thomas Toomse-Smith examines how technology could evolve the annual report.
World of opportunity – Sue Almond on how audit is changing
Nigel Sleigh-Johnson gets a global perspective on how audit is changing from Sue Almond, head of assurance at Grant Thornton International.
It is easy to be misled by words, especially in the conversation around cryptocurrency. Here, Matthew Leitch explains what certain terms mean, helping you avoid expensive consequences.
Igor Pejic: Blockchain expert
Blockchain expert Igor Pejic talks to journalist Chris Evans about blockchain and how the back-office technology could transform financial services
Ian Michael, senior technical specialist at the Bank of England, explores crypto-assets in the context of two recent publications from the IFRS Interpretations Committee and the Basel Committee on Banking Supervision.
Financial innovation often promises to reduce costs and improve products and services, giving access to new customers and markets. But it also has a darker side.