International Federation of Accountants: Bitcoin Could Reshape Financial Ethics
A new essay from the CEO of the International Federation of Accountants, an organization that boasts more than 2.5 million accountants and 179 member-organizations among its ranks, suggests that there is a growing belief in the industry that bitcoin technology could revolutionize fiscal and corporate governance. The article, penned by IFAC CEO Fayez Choudhury, posits that bitcoin presents both opportunities and challenges for accountants, and argues that accountants are uniquely placed to help determine the role that bitcoin will play in global finance. Choudhury suggests that bitcoin....
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FIDE, the International Chess Federation, has become the first global sports federation to launch its own NFT marketplace. It announced a partnership with core developers of FreeTON, TON Labs, to launch ChessNFT.com – a new chess non-fungible token (NFT) ecosystem. Full marketplace functionality is scheduled for later this month, to coincide with the upcoming World Championship in Dubai. ChessNFT hopes to welcome a new demographic to the world of blockchain, attracting both players and fans of chess alike. Users will be able to bid on and purchase chess-related NFTs featuring....
Blockchain could change the way accountants generate revenue, according to a report published yesterday by the Association of Chartered Certified Accountants (ACCA). The group, which boasts more than 180,000 members worldwide, said in its report that the kinds of services accountants provide may evolve depending on how the technology is adopted. These changes, the report's authors note, may impact the income of accountants as well. While the report notes that "it will take time" to see how distributed ledger adoption affects revenues for accountants, it does caution that....
As part of our ongoing efforts to be maximally transparent and accountable to readers, CoinDesk has substantially updated and expanded its ethics policy.
Even though, terms like 'mining' and 'blocks' are used in Bitcoin they may not be the best metaphors. For practical users, Bitcoin is better thought of as a network of private accountants. The accountants compete against one another in the world's fastest guessing game to maintain a ledger. When an accountant makes a correct guess they get to write a new page and receive a wage. The Bitcoin protocol enforces strict rules on the accountants. New pages follow a template. The accountant records a little "for office use only" information and fills the rest of the page with Bitcoin transactions....
The Federation Council of the Russian legislature is forming a working group expected to propose comprehensive regulations for cryptocurrencies. Officials from several ministries and government agencies, as well as members of the country’s expanding crypto industry, will join the body.
Federation Council to Prepare New Regulations for Cryptocurrencies in Russia
The Federation Council, the upper house of Russian parliament, is establishing a working group of experts to take on the task of developing additional regulations for Russia’s growing crypto space.....