A lot has been said and written about blockchain and cryptocurrency, but what do you really need to know—and why does it matter? Guests Nik Fahrer, Caleb Shough and Katie Harrison join host Damien Martin for a discussion on the tax, financial reporting and regulatory aspects of this evolving area.
HERE'S WHAT'S COVERED:
- Background on Bitcoin @03:12
- Goal of cryptocurrency’s creators @04:12
- What is cryptocurrency? @05:41
- Evolution of cryptocurrency since its inception @09:14
- Tax treatment and implications @11:26
- Financial reporting treatment and implications @13:39
- Misconceptions and misunderstandings @15:40
- Compliance and regulatory considerations @21:05
- It’s more than having a great cryptocurrency-related idea @24:48
- Mining @26:57
- Hardforks @32:13
- Wash sales @35:41
- Other blockchain applications @37:31
- Partnering with FinTech companies @39:39
- Best practices for partnering @44:21
- Cryptocurrency and the gig economy @46:00
- Anonymity and cryptocurrency @47:10
- Advice for keeping up with the developments @49:05
- A few ways to learn more @50:11
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