Accountants are increasingly encountering cryptocurrency and other cryptoassets, and ICAEW is supporting them on this, states Lesley Meall.
Regardless of whether it’s Tesla and Sq. adding bitcoin to the harmony sheet, VISA and Morgan Stanley launching cryptoservices, or the non-fungible token craze, digital belongings this kind of as cryptocurrency are getting into the mainstream. ICAEW Technical Manager (and ex-auditor) David Lyford-Tilley is not by yourself in exploring the implications for the profession of cryptocurrency, other cryptoassets and developments such as clever contracts, which are enabled by dispersed blockchain ledger technology.
Uptake is spreading and accelerating, offering options for companies of all dimensions to realize competitive edge by offering consumers with crypto-associated companies, as accountants conquer some of the complex and practical problems, these types of as building enough awareness and knowledge of this new asset class.