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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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ICAEW calls for UK crypto asset tax reform

ICAEW 20-09-2022

ICAEW highlights the difficulties taxpayers face in applying the current tax regime to crypto asset activity. It makes the case for a brand-new set of rules to apply in this area.

How do we audit cryptocurrency?

ICAEW Insights 12-09-2022

Cryptocurrencies are still a bit of an unknown entity when it comes to audit and assurance. What considerations do auditors need to take on board?

Digital assets: what are the accounting issues?

ICAEW Insights 23-08-2022

ICAEW’s Head of Tech Policy, Esther Mallowah, explores the challenges surrounding accounting for digital assets and provides highlights of a recent panel discussion on the subject.

How can blockchain technology build trust?

ICAEW Insights 19-08-2022

Usually associated with cryptocurrency transactions, blockchain has a wealth of potential for many business activities, particularly in building trust. So why aren’t firms adopting it more?

ICAEW regulatory round-up: July 2022

ICAEW Insights 27-07-2022

This month’s update includes further information on upcoming changes to the disciplinary framework and the latest guidance on Russian sanctions. We speak to a small independent practice about how they’re using our latest training film All Too Familiar and invite you to a crypto assets webinar.

Increasing regulatory focus on prudential treatment of cryptoassets

Michelle Adcock, banking sector lead and Bronwyn Allan, assistant manager, KPMG Regulatory Insight Centre look at how crypto regulation is developing.

Could a crypto crisis progress digital payments?

Volatility in the crypto market and regulatory developments could advance payment technology, writes Billy Bambrough for the ICAEW Financial Services Faculty.

The outlook for crypto in a jittery market

ICAEW Insights 13-07-2022

What do recent crashes to the cryptocurrency market mean for the future of crypto assets? Ross Thompson, Accountancy and Finance Lecturer at Arden University reports.

How close are we to a cashless society?

ICAEW Insights 23-06-2022

With 15 countries, including seven in Europe, planning to go cashless in the next decade, are we ready to abandon cash? And what legal, regulatory and ethical hurdles do we need to overcome first?

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.

Cryptocurrency and taxation

The increased interest in Cryptocurrency raises many interesting tax issues for professional and amateur investors investing in cryptocurrency and cryptocurrency entrepreneurs creating new crypto businesses. This article outlines the significant tax issues a tax professional may encounter in relation to cryptocurrency.

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.

UK cryptocurrency owners nudged on CGT

08-11-2021

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.

Cryptoassets and auditing

David Lyford-Tilley Chartech 30-09-2021

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.

Cryptocurrency: accountants look beyond the horizon

Gavin Brown 10-06-2021

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.

What happened to Tesla’s bitcoin billions?

Gavin Brown 30-04-2021

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 trends

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.

Don’t bank on bitcoin for payments yet

Billy Bambrough 13-01-2021

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.

Blockchain: count every vote? Yes you can!

Gavin Brown 06-11-2020

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.

How Hayek predicted Bitcoin and the rise of crypto

Stephen Lynch 29-10-2020

30 October 2020: Cryptocurrencies represent the real-world implementation of Nobel Prize-winning economist Friedrich Hayek’s thesis for monetary systems, writes Stephen Lynch.

How new digital currencies can help fight COVID-19

Gavin Brown 10-06-2020

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.

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

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