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Blockchain and cryptoassets

Blockchain promises to be a disruptive technology for the accountancy and auditing professions. Based on this revolutionary record-keeping technology, cryptocurrencies such as bitcoin have been grabbing headline attention for over a decade. But the questions of how accountants can work with them – whether advising, recording, or auditing on cryptocurrency and other crypto-assets such as Non-Fungible Tokens (NFTs) – are still being explored. Here we collate useful information and resources on blockchain and cryptoassets.

In this section

Features and articles

Helpsheets and guidance

Guidance on crypto assets

This guidance gives an introduction to crypto-assets for accountants, and how members may encounter clients with these assets. The guidance then outlines the Money Laundering risks that could be associated with clients who hold crypto-assets, and the issues that members will need to consider in their risk assessments.

The essential guide to cryptocurrency

How do you account for cryptocurrencies? What tax is payable on crypto-transactions? What is the difference between a cryptoasset and a cryptocurrency? What is an ICO? This tech essentials publication provides guidance to help answer some of those questions.

Webinars and recordings

Blockchain - a game changer in Accounting?

In this webinar, Ben Taylor, Partner, IT Advisory at EY, explains how Blockchain technology has the potential to streamline and accelerate business processes, increase cyber security and reduce or eliminate the roles of trusted intermediaries in industry after industry.

Disclaimer: The opinions expressed by external guest speakers in interviews or other publications included on this website are, by their nature, those of the speaker. They are not necessarily fully endorsed by the ICAEW or purport to reflect the official policies and views of the ICAEW or its members.

The Library & Information Service provides a hand-picked collection of industry press articles as a benefit of membership. If you are unable to access an article, please see our Help and support or contact library@icaew.com

Tax strategy: The taxation of NFTs

Article discusses tax issues arising from the form of cryptoasset known as Non-Fungible Tokens (NFTs)

Non-Fungible tokens and copyright law

The article discusses how the edge of intellectual property (IP) law is the ambiguous relationship between non-fungible tokens (NFTs), a cryptographic tool using a suitable blockchain, and copyright law. It mentions that the commercial value of an NFT is in its ability to prove ownership and authenticity of the asset which it represents and NFTs can also be used to verify the authenticity of physical asset.

NFTs: key U.S. legal considerations for an emerging asset class

This article briefly describes Non-Fungible Tokens (NFTs) and some of the most relevant U.S. legal issues.

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Blockchain: Legal and regulatory guidance

2nd edition of the Law Society's report on blockchain. Covers a range of key issues for legal practitioners to be aware of when advising on distributed ledger technology (DLT) related matters. Includes the growing types and uses of DLTs and their implications on areas of litigation including smart contracts, data and governance, blockchain consortia, data protection, intellectual property rights, dispute resolution, competition, tax and ESG.

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Finance in a digital world

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