Formidium’s Post

👀 The FASB has officially adopted Fair Value accounting rules for #Bitcoin and select #cryptocurrencies. Read more to understand what this means for investors ⬇️ https://zurl.co/UXSYG

🔍 Coinbase, Robinhood Among Few Tallying Crypto Risks in Filings: Legal Significance and Industry Impact 🔍 As the cryptocurrency market continues to evolve, companies like Coinbase and Robinhood are at the forefront of addressing the associated risks. These firms are among the few that have started to disclose the market value of their customers’ crypto assets as liabilities on their balance sheets, following controversial accounting guidance from the Securities and Exchange Commission (SEC). This move highlights the significant risks and legal implications tied to the volatile nature of digital assets. Key Points: Transparency and Investor Awareness: By reporting the market value of customer crypto holdings as liabilities, Coinbase and Robinhood are providing greater transparency to investors. This practice helps investors understand the potential risks associated with the volatile crypto market, including the impact on profits if these assets are hacked or stolen. Regulatory Compliance: The SEC’s guidance on crypto asset reporting underscores the need for regulatory compliance in the rapidly changing crypto landscape. Companies must navigate complex legal requirements to ensure they are not only protecting their customers but also adhering to federal securities laws. Legal Challenges and Enforcement Actions: Both Coinbase and Robinhood have faced legal challenges from the SEC. For instance, the SEC has alleged that Coinbase’s crypto transactions constitute “investment contracts” under the Howey test, making them subject to federal securities laws. Similarly, Robinhood has received a Wells notice from the SEC, indicating potential enforcement action related to its crypto business. These legal battles highlight the ongoing tension between crypto firms and regulatory bodies. Market Impact and Corporate Strategy: The legal scrutiny and the need for transparent reporting have significant implications for the corporate strategies of crypto firms. Companies must balance innovation with regulatory compliance, ensuring they can continue to offer crypto services while mitigating legal risks. This delicate balance is crucial for maintaining investor confidence and fostering long-term growth in the crypto sector. Conclusion: The proactive steps taken by Coinbase and Robinhood to disclose crypto risks in their filings reflect a broader trend towards greater transparency and regulatory compliance in the cryptocurrency industry. As legal frameworks continue to evolve, it is essential for crypto firms to stay ahead of regulatory requirements and address the associated risks. This approach not only protects investors but also ensures the sustainable growth of the crypto market. #Cryptocurrency #Blockchain #CryptoRegulation #Coinbase #Robinhood #LegalCompliance #InvestorAwareness #FinancialTransparency

👀 The FASB has officially adopted Fair Value accounting rules for #Bitcoin and select #cryptocurrencies. Read more to understand what this means for investors ⬇️ https://zurl.co/UXSYG

We scrapped the 106 sessions of Messari #Mainnet2024, so finance and accounting professionals don't have to do the hassle. Here’s a curated list of 7 not-to-be-missed talks for CFOs and Finance Professionals, grouped by date: DAY 1 - Sep 30th > How to Avoid the IRS Crypto Trap Peymon Mottahedeh from Freedom Law School DAY 2 - Oct 1st > The Many Lives of Enterprise Blockchain Gregg Bell, Senior Vice President, The HBAR Foundation Paul Brody, Global Blockchain Leader, Ernst & Young Shaul Kfir, Co-Founder & Chief Operating Officer, Digital Asset Morgan Krupetsky, Head of Institutions & Capital Markets, Ava Labs Jill Malandrino, Reporter, Nasdaq > How SoDA Is Refreshing Crypto Balance Sheet Reporting Brent Gerundo, Chief Operating Officer, Messari Samuel Leichman, Blockchain Practice Lead, Propeller Industries (Moderator) Rob Massey, Partner, Global Tax Leader – Blockchain & Digital Assets, Deloitte > Digital Assets and Institutional Adoption (Powered by CoinDesk Indices) Andrew Baehr, CFA from CoinDesk Indices DAY 3 - October 3rd > Fireside: Coinbase on M&A and Investing Shan Aggarwal, VP Corporate & Business Development, Coinbase Ventures Jeff John Roberts (Moderator) > U.S. Policy Outlook: What Happens After November? Brady Dale from Axios Konstantin Richter, CEO and Founder, Blockdaemon H. Joshua Rivera from Blockchain Capital > Beyond Bunkers: The Future of Institutional Custody Mike Belshe, CEO, BitGo Jeff John Roberts These sessions are poised to provide critical insights into the future of crypto accounting, regulation, and institutional adoption—key areas for finance professionals looking to stay ahead in the digital asset space.

Not talking politics or about Trump specifically—I’ve always seen Bitcoin as a symbol of freedom from government and corporate control over personal finances. But it’s undeniable: a pro-crypto policy can accelerate the space, driving innovation, technology adoption, and creating opportunities for forward-thinking companies with a visionary approach to tokenization and digital assets. 👉 See how Upland is uniquely positioned for this moment in this Yahoo Finance article: https://lnkd.in/d_sYatAY

"My intention, basically since I was a teenager, was actually to open my own CPA firm. I always viewed this profession as my vehicle to wealth building." Patrick Camuso, CPA saw the opportunity to start his own firm while watching the rise of Bitcoin. Now, Camuso CPA specializes in clients who are digital asset investors and Web3 companies. Camuso spoke with me about the challenges of founding a firm and how digging deep on crypto has impacted his firm's growth. This is a part of an ongoing series for Accounting Today on how accounting entrepreneurs launched their practices. Look for more Founder Files in the coming weeks. #accounting #crypto

On #BlockchainLiteracy | During class today, we unpacked how the IRS defines a #digitalasset, how crypto can be transacted under each definition, how to track and pull transaction history efficiently, and how to understand the tax implications of crypto trading on short and long-term capital gains. https://lnkd.in/eDdCTrBv

🚀 Coinbase CFO on Crypto’s Future: Clearer Rules Will Unlock Growth 🌐 Alesia Haas, CFO of Coinbase, believes regulatory clarity is the key to unlocking the full potential of the crypto industry. Speaking at the Nasdaq London Investor Conference, she shared insights into the growing adoption of digital assets and the promising changes on the horizon. 📊 Crypto Adoption Is on the Rise - 52 million Americans now own or transact in crypto, a number expected to grow. - Pro-crypto sentiment in U.S. Congress is on the rise, bolstered by November's elections. 🏛️ A Pro-Crypto Administration in the U.S. Haas highlighted optimism surrounding President-elect Donald Trump’s nomination of Paul Atkins, a crypto advocate, to lead the SEC. She expects regulatory clarity and comprehensive legislation to spark industry-wide growth. 🔑 Why Regulation Matters Clearer rules will unlock: - Innovation 🌟 - Banking relationships 🏦 - New capital inflows 💰 Haas likened the crypto industry’s evolution to the dot-com era, where traditional businesses eventually embraced the internet. Financial services institutions will need to compete with crypto firms, adapting to a rapidly changing landscape. 📈 Institutional and Retail Interest Grows Coinbase has seen increased activity from both institutional and retail investors. Even legacy firms like Charles Schwab are preparing to offer spot crypto trading, pending regulatory clarity. 💡 The CFO Perspective Finance chiefs view crypto adoption as a path to faster, borderless transactions with reduced fees and seamless integration. However, they prioritize: - Safety in transactions ✅ - Trust in platforms 🔒 - Cost savings 💵 🌍 The Bigger Picture According to Haas, “Tokenizing real-world assets to enable peer-to-peer value transfer will create a more inclusive, faster, and cheaper financial system,” she said. As regulation paves the way, Haas believes: "it’s not a question of if, but when crypto technology becomes the norm." 🔥 The future of finance is digital, inclusive, and decentralized! 🌐✨ #crypto #blockchain #tokenization #digitalfinance

As the finance sector stands on the brink of a crypto revolution, our partner Pawel Rogalski wants to start a conversation on what the future holds for financial executives. With #cryptocurrency rapidly reshaping the financial landscape, the roles and expectations of #CFO and other financial leaders are evolving. 🔍 Dive into our latest article where we: • Forecast the optimistic vision for finance in 2024 • Analyze current sentiments and trends surrounding crypto markets • Unpack the evolving role of financial executives in a crypto-integrated world 👉 Read the full insights here: https://lnkd.in/eeZvrkym Share your thoughts - How prepared are you to lead in the crypto era? #FinanceLeaders #CryptoTrends #ExecutiveSearch