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Cryptocurrency

Based on the revolutionary record-keeping technology blockchain, 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. On this page we share all of ICAEW’s guidance on understanding the cryptocurrency phenomenon and how to apply accounting, audit, tax, and more in this new world.

In this section

Features and articles

Cryptoassets and auditing

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.

Cryptocurrency: A new wave of compliance activity

John Lewis, Senior Tax Consultant at Markel Tax, looks at an area of compliance activity that has been of increasing interest to HMRC in recent years and reflects on the modern world that we live in leading to the innovation and development of cryptoassets or cryptocurrency.

Cryptocurrency: A new wave of compliance activity

John Lewis, Senior Tax Consultant at Markel Tax, looks at an area of compliance activity that has been of increasing interest to HMRC in recent years and reflects on the modern world that we live in leading to the innovation and development of cryptoassets or 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.

Accounting for cryptocurrencies under FRS 102

The purpose of this technical helpsheet is to consider both the potential accounting treatments under FRS 102 and the presentation of cryptocurrencies within the financial statements. It should be noted that this is an emerging area and practice will no doubt evolve over time.

Finance in a digital world

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eBooks

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

Crypto-currencies and blockchains

Chapter 9 of the Fintech book looks at digital currencies and the various applications of the blockchain including what comes next and alternative applications of the blockchain technology to financial services.

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, 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.

Industry press

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.

Accounting for cyrptocurrencies

Guidance on accounting for cryptocurrencies under US GAAP

Digital payments are here to stay

The article discusses developments on the use of blockchain and cryptocurrencies in digital payment systems, as well as the need for management accountants to learn the trends on their use. Also cited are the creation of central bank digital currencies (CBDC), as well as the continuous efforts to improve payment digitization and automation.

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.

Cyrptoassets

FCA information about the regulation of crypto assets (including cryptocurrencies) and the risks of investing and making payments using cryptoassets.