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Blockchain and cryptocurrency

Blockchain promises to be a disruptive technology for the accountancy and auditing professions. Based on this revolutionary record-keeping technology, cryptocurrencies such as bitcoin have been grabbing headline attention for over a decade. But the questions of how accountants can work with them – whether advising, recording, or auditing on cryptocurrency and other crypto-assets – are still being explored. Here the ICAEW's Tech Faculty collates useful information and resources on blockchain and cryptocurrency.

In this section

Features and articles

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.

Helpsheets and guidance

Guidance on crypto assets

This guidance gives an introduction to crypto-assets for accountants, and how members may encounter clients with these assets. The guidance then outlines the Money Laundering risks that could be associated with clients who hold crypto-assets, and the issues that members will need to consider in their risk assessments.

The essential guide to cryptocurrency

How do you account for cryptocurrencies? What tax is payable on crypto-transactions? What is the difference between a cryptoasset and a cryptocurrency? What is an ICO? This tech essentials publication provides guidance to help answer some of those questions.

Fintech innovation: perspectives from Singapore and London

This international research report, in partnership with the Institute of Singapore Chartered Accountants (ISCA), explores the strengths and challenges for Singapore and London as fintech hubs, and identifies the key elements that underpin successful fintech innovation.

Webinars and recordings

Blockchain - a game changer in Accounting?

In this webinar, Ben Taylor, Partner, IT Advisory at EY, explains how Blockchain technology has the potential to streamline and accelerate business processes, increase cyber security and reduce or eliminate the roles of trusted intermediaries in industry after industry.

Disclaimer: The opinions expressed by external guest speakers in interviews or other publications included on this website are, by their nature, those of the speaker. They are not necessarily fully endorsed by the ICAEW or purport to reflect the official policies and views of the ICAEW or its members.

The Library & Information Service provides a hand-picked collection of industry press articles as a benefit of membership. If you are unable to access an article, please see our Help and support or contact library@icaew.com

Digital assets: does the perception match reality

Article dispels some of the common misconceptions about digital assets and provide a starting point for accountants to better understand the impact of the new digital asset ecosystem on the accounting profession.

Latest trends in blockchain and crypto

Article outlines some recent developments in distributive ledger technology and cryptocurrencies and what they might mean for accountants and finance processionals moving forward.

The spread and use of blockchain

Article looks for evidence that companies have moved from investigating the use of Blockchain to successful adoption.

Terms of use: You are permitted to access articles subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Useful links

A guide to blockchain and data protection

This guide from the Hogan Lovells law firm provides some of the fundamental tools needed to analyse blockchain projects under applicable data protection law.

Blockchain and internal control

This paper provides perspectives for using the 2013 COSO Framework to evaluate risks related to the use of blockchain in the context of financial reporting and to design and implement controls to address such risks. It is intended to help inform decisions regarding oversight, risks, and internal control over financial reporting (ICFR).

Blockchain: Impact on business, finance and accounting

Guidance from<a href="https://www.ifac.org/"> IFAC</a> on the fundamental concepts of blockchain and its development and potential for finance and accounting professionals.

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Finance in a digital world

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