Accountants are more and more encountering cryptocurrency and other cryptoassets, and ICAEW is supporting them on this, states Lesley Meall.
Whether it is Tesla and Sq. including bitcoin to the stability sheet, VISA and Morgan Stanley launching cryptoservices, or the non-fungible token trend, electronic assets such as cryptocurrency are coming into the mainstream. ICAEW Specialized Supervisor (and ex-auditor) David Lyford-Tilley is not on your own in discovering the implications for the job of cryptocurrency, other cryptoassets and developments these types of as wise contracts, which are enabled by dispersed blockchain ledger technologies.
Uptake is spreading and accelerating, featuring chances for firms of all measurements to attain competitive benefit by giving shoppers with crypto-relevant products and services, as accountants defeat some of the complex and simple issues, these as developing sufficient information and knowing of this new asset class.