Part 1: Does Your Block Need a SOC? - A Handy Guide to Understanding SOC 1 and SOC 2 Audits for Crypto Companies
Explore the world of SOC reporting for blockchain and digital assets in this insightful series. Learn why your crypto business might need a SOC audit, understand the differences between SOC 1 and SOC 2 reports, and discover how to navigate the path from startup to SOC-compliant organization. Whether you're an early-stage company or an established player in the blockchain space, this guide provides valuable insights into third-party assurance and best practices for the crypto industry.
How the IRS’s New Revenue Procedure 2024-28 Changes Crypto Tax Reporting
Stay ahead of the curve with the IRS's latest crypto tax guidelines! Revenue Procedure 2024-28 introduces a groundbreaking safe harbor rule for allocating the basis of digital assets, effective January 1, 2025. In this detailed breakdown, TNF experts Noah Buxton and Nick Ward discuss how these changes impact crypto companies and individual investors alike. Learn about new wallet-specific tracking requirements, compliance tips, and the interplay with recent broker-dealer regulations. Whether you're a seasoned crypto pro or navigating taxes for the first time, this guide will help you prepare, optimize your records, and avoid potential IRS penalties. Read on for expert insights, practical strategies, and everything you need to tackle crypto taxes like a pro!
2025 Crypto Predictions: Strategic Reserves, Stablecoins, & Regulation
Discover expert predictions for the crypto industry in 2025, including the potential for a U.S. Bitcoin Strategic Reserve, evolving regulatory frameworks, stablecoin growth, and the ongoing mystery of Satoshi Nakamoto. Explore insights from leading experts on how these trends could shape the future of cryptocurrency.
Tokenized Assets: The Opportunities for Auditors & Accountants
The rise of tokenized assets, such as stablecoins and tokenized real estate, is reshaping global finance. As these digital representations of real-world assets grow, they bring challenges in transparency and trust that auditors and accountants are uniquely positioned to solve. By leveraging blockchain technology for proof of reserves, on-chain reporting, and real-time auditing, financial professionals can provide the credibility and compliance needed in this evolving landscape. Dive into the future of finance and learn how tokenization opens new opportunities for transparency, trust, and innovation.