New Organisation Offers Bitcoin Accreditation for Financial Professionals
Accountants, attorneys and financial professionals seeking to advise digital currency consumers and companies can now pursue professional accreditation from the Digital Currency Council (DCC). The New York-based professional services company officially launched today with the backing of Bitcoin Opportunity Corp, the investment vehicle led by SecondMarket chairman Barry Silbert, to provide training, support and education to members of these services sectors. Speaking to CoinDesk, the DCC's CEO and founder David Berger asserted that there is a real need for his organisation given the fact....
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Bitcoin storage firm Elliptic has received accreditation from "Big Four" accounting firm KPMG, and is now considered to be operating on the same level as a custodian bank. As Elliptic CEO James Smith explains: "KPMG's accreditation is an important milestone, as it demonstrates our commitment to delivering both best-in-class technology and deep operational expertise... This report demonstrates to our customers that we have the rigorous internal processes and controls expected of any traditional financial services provider... Combined with our comprehensive insurance protection, they provide....
Digital currency storage service Elliptic has obtained ISAE 3402 accreditation - a global standard for financial reporting - from auditing specialist KPMG. The ISAE 3402 Type 1 or SOC1/2 review scrutinises various aspects of a business, including financial controls, regulatory compliance including AML and KYC measures, financial controls, code deployment, disaster recovery, segregation of duties and offline bitcoin storage techniques. The UK-based storage provider says it is the first bitcoin company to receive the accreditation and that ISAE 3402 indicates that the firm operates with the....
Safe. This is the conclusion drawn by KPMG, who gave a precious ISAE 3402 accreditation to the bitcoin cold storage firm Elliptic. The company secures its customers' bitcoin through the combined use of strong encryption procedures and secure physical locations disseminated all over the world. Also read: Elliptic Vault In The United Kingdom Is Offering Fiat Denominated Bitcoin Insurance. A Major Milestone for Eliptic. In a statement published earlier this week, Elliptic's CEO James Smith welcomed the certification his company just received: "KPMG's accreditation is an important milestone.....
This week on the Bitcoin Taxes series, we will be discussing a quality service that connects professionals in the world of digital currency with clients that have specific needs. The Digital Currency Council (DCC), is a great organization for professionals looking to specialize in a certain area of digital currency and for clients that are seeking specific advice. While it’s probably too late for using the service for reporting this year’s taxable income and capital gains, the service is very important to talk about, as it is very useful for people looking to start new businesses, seek....
The Financial Action Task Force (FATF) has published a paper looking into the money laundering and terrorism financing risks involved with digital currencies. FATF is an independent intergovernmental organisation tasked with developing policies to combat money laundering (AML) and terrorism financing (CTF). The organisation further maintains a blacklist, which highlights jurisdictions that refuse to address these issues. In addition, the FATF issues recommendations for AML and CFT, which must be followed in order to stay off the blacklist. The FATF paper, titled 'Virtual Currencies - Key....