Bitcoin News

Top professional services firms, including EY, PwC, and KPMG, are currently hiring hundreds of blockchain and cryptocurrency experts to offer auditing services to companies involved in the loosely regulated sector, the Financial Times reported on Oct. 29. Auditors Grapple with Crypto and Blockchain Despite a prevailing lack of consensus on how digital assets should be accounted for and the overall negative sentiment large financial institutions have towards cryptocurrencies in general, major accountancy firms don’t shy away from providing services to companies in the sector. Companies such as EY, PwC, and KPMG are ramping up their by hiring specialized staff and developing their own in-house technologies to support the crypto audit process. The main reasoning behind the overwhelming support the industry has gotten from the auditors stems from their belief that businesses will continue to use the blockchain technology underpinning it even as the hype around cryptocurrencies die...

Canada’s “first” and “only” regulated Bitcoin (BTC) fund First Block Capital Inc. has obtained mutual fund trust status, allowing investors to put their fund units in self-directed registered accounts, according to a press release published September 10. First Block Capital Inc. (First Block) announced that investors in its flagship product the FBC Bitcoin Trust — available for accredited investors only — can now put their holdings in such accounts as a Registered Retirement Savings Plan (RRSP) and a Tax-Free Savings Account (TFSA). Essentially this will allow accredited investors to deposit their fund units into accounts which provide substantial tax benefits for retirement and savings purposes. There are several types of accredited investors in Canada which include but are not limited to: an individual registered as an adviser or dealer by securities regulators; a person who beneficially owns financial assets in the amount that exceeds $1,00...