Digital assets, such as cryptocurrency or NFTs, and the evolution of web3, AI, and the metaverse are game changers. We’re entering a new era, and now is the time to understand the space and find your opportunities. These are no longer far-fetched ideas—crypto and other digital assets are here to stay.
Each of us can carve out a space in this expansive and growing ecosystem. One that makes sense for your business. And enables you to build trust and drive sustained outcomes. But first, you need to explore the landscape. Get to know the players and the quickly evolving regulatory environment. So you can make the most of what’s ahead.
Be ready to benefit from opportunities, make educated decisions and take bold steps forward with your digital assets strategy. This space is vast. Now is the time to prepare for the future by familiarizing yourself with a growing number of compelling business cases.
Think of the term “digital assets” as a broad container that encompasses anything minted and exchanged on a blockchain. A digital asset is created, or minted, when new information is added to a particular blockchain. Through blockchain entries, users can exchange existing digital assets and/or create new (mint) ones. Digital assets, including cryptocurrencies (crypto assets), stablecoins, Non-fungible tokens (NFTs), Central bank digital currencies (CBDCs), security tokens, are past “emerging” — they’re here to stay.
This guide discusses the relevant accounting and reporting considerations related to crypto assets. It includes summaries of the applicable accounting literature, our insights and perspectives, interpretative and application guidance, illustrative examples, and discussion on emerging practice issues.
The GENIUS and CLARITY Acts establish a regulatory framework for stablecoins and define digital asset regulatory jurisdiction, paving the way for a more structured and secure digital asset ecosystem.
New AICPA stablecoin framework sets the standard for reserve reporting. What issuers need to know and what it means for trust, transparency and compliance.
The digital asset industry is moving fast – here are five crypto and NFT trends for 2023 and what to expect next.
