Solving the Complexities of Crypto Tax & Accounting With the Experts at Ledgible
As crypto matures and continues along its path of inevitable adoption, so too does the importance placed on adequately accounting for crypto as an asset class and a source of income. Cryptocurrencies at their core were not designed to fit into traditional financial systems, after all, that’s where some of their primary benefits over fiat and banking systems are found. For crypto natives, trying to fit the square peg of crypto into the round hole of traditional finance is done begrudgingly, often come tax time – or in the case of businesses with crypto, monthly to close books.....
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PRESS RELEASE. ATLANTA, June 7, 2022 – Ledgible, the leading professional-first crypto tax and accounting platform, today announced $20 million in funding for its Series A Round led by EJF Capital LLC (“EJF”) through its affiliate, the EJF Silvergate Ventures Fund.
Joining the round are JAM FINTOP, Thomson Reuters Ventures, TTV Capital, Fenbushi US, Commerce VC, Nathan McCauley, and Perkins Coie. Ledgible now stands at the forefront of the professional-focused crypto tax & accounting industry. This investment will be used to expand Ledgible’s product....
Blockchain representatives from each of the 'Big Four' accounting firms are set to meet this morning with the American Institute of Certified Public Accountants to discuss establishing a distributed ledger consortium. Held at Microsoft's headquarters in New York City, the event marks the first meeting between blockchain specialists from Deloitte, Ernst & Young, KPMG and PwC. Collectively, the accounting firms in attendance last year generated $123.7bn revenue. The gathering is being hosted by ethereum-focused startup Consensys. According to Consensys head of blockchain accounting,....
Crypto accounting is undergoing a seismic shift in the United States as the Financial Accounting Standards Board (FASB) unanimously approves new rules governing the fair valuation of companies’ cryptocurrency holdings, according to recent reports. The move, widely anticipated and applauded by the financial industry, aims to bring transparency and consistency to a rapidly evolving sector. […]
by Erica and Stefan Armstrong (wife and husband accounting team) and David Mondrus. Open ledger accounting has the potential to make accounting more accurate and simpler than ever. One of the problems with accounting as it currently stands is its inability to provide 100% accuracy. This might be surprising for those not actively managing books day to day, but the details of transactions, the speed with which they move and the complexity of their classification means that 100% accuracy is far from certain. For example, a large bank has thousands of transactions a day that they have to....
The Financial Accounting Standards Board received hundreds of letters inspired by MicroStrategy that urge U.S. accounting standards be reconsidered to accommodate companies that hold Bitcoin.