This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Accounting and Tax Considerations for Cryptocurrency

  • All - Deloitte Image

May 20, 2021

The Financial Education & Research Foundation (FERF) spoke with Deloitte experts about the accounting and tax considerations when a company invests in cryptocurrencies or chooses to use it in its business.

The questions covered included:

  • Given that different cryptocurrencies carry different risks, how do financial executives decide which ones we want to be associated with and which ones to avoid?
  • What are the key accounting and tax capabilities that their systems need to accommodate to account for crypto?
  • What are the key accounting and tax considerations when a company invests in cryptocurrencies or chooses to use it in its business?
  • How do we think about the decision to self-custody vs. Use a custodian?
  • What are the considerations as we select vendors to support key functions like custody?
  • Which risk factors should preparers consider disclosing in public filings?
  • Which areas of regulation and compliance should companies pay particular attention to?

Review the article on the FEI's website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.