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What Legal and Technical Challenges Are Crypto Accountants Facing?

04.02.20

BitcoinBPM Partner Mark Li discusses digital assets accounting and taxations tips in Blox’s Crypto Tax Report 2020, which is dedicated to addressing the immediate and future challenges for tax and accounting professionals.

Mark, who co-leads BPM’s Blockchain and Digital Assets practice, is just one of several leading crypto accountants and tax professionals Blox surveyed to identify areas of concern for crypto taxation, accounting, reporting and the need for technology to empower the future of the industry and its professionals.

This report seeks to:

  • Highlight the legal and technical challenges facing accounting and tax professionals for cryptocurrency clients or businesses.
  • Clarify the specific issues and tax scenarios to help other professionals and businesses when handling cryptocurrency clients.
  • Showcase insights from leading crypto accountants and tax practitioners on reporting, auditing, cost basis, and taxation.
  • Present advice on best practices for the most effective and robust technology to handle cryptocurrency accounting and tax services.

Download Blox’s Crypto Tax Report 2020 and reach out to BPM Partner Mark Li if you have any additional questions after reading the report.

BPM for Blockchain/Digital Assets

BPM is one of the largest West Coast-based CPA firms that specializes in serving the digital assets and blockchain industry. BPM provides individual and business tax and audit compliance, consulting and tax structuring services. Our professionals have extensive knowledge and experience in dealing with accounting and auditing matters, as well as regulatory and compliance issues, including revenue recognition, IT compliance, enterprise risk management and classification of digital assets. Learn more at bpmcpa.com/blockchain.