Digital Currency Services

In the ever evolving world of digital currencies, where growth is rapid, opportunities are global, and regulations continually unfold, Friedman LLP’s specialized knowledge brings you peace of mind as you navigate the challenging landscape.

Friedman is proud to be at the forefront of this emerging industry, providing digital currency services to both domestic and international clients. Our expertise enables digital currency and distributed ledger technology companies, from start-ups to mature businesses, to innovate and create—knowing that their accounting, reporting and tax compliance requirements are properly managed and assessed.

Why choose Friedman LLP for your digital currency accounting needs?

• At the forefront: Since regulations for digital currency transactions are still evolving, we are actively engaged in discussions regarding accounting policies and procedures with industry leaders and with the SEC. We have specific knowledge on best accounting practices for these transactions and the associated disclosures.
• Extensive knowledge of your industry: We audit leaders in the digital currency industry, including the Bitcoin Investment Trust. Our experience should inspire confidence in other organizations looking for digital currency and blockchain accounting expertise.
• Experience with an array of digital currencies: Friedman’s professionals are experienced in several digital currencies, including Bitcoin, Ethereum, Ethereum Classic, Ripple, Zcash, Monero, Dash and Litecoin. We also have experience with blockchain and other distributed ledger technologies.
• Dedicated resources: Our dedicated team understands the complex challenges that companies face with digital currencies and the underlying technology, as well as the compliance requirements associated with these new and evolving markets.
• Global expertise: Friedman’s international tax experts develop global holding structures that take into account the benefits of commercial and tax regimes in other jurisdictions. This helps ensure long-term global competitiveness for your digital currency or token offer.
• Responsiveness: Our size and flexibility allow us to be more nimble and timely than larger firms, key characteristics in an industry that moves as quickly as digital currency. You will receive personal attention, frequent communication, quick resolution of issues, and proactive advice—the simple yet differentiating attributes among accounting firms.

Should you wish to explore how we might best serve your digital currency accounting needs, please contact us or a member of the digital currency services team.

Friedman LLP offers a full suite of audit, accounting, tax, and consulting services to the digital currency industry, including expertise in enterprise risk management (ERM), fraud assessment, and internal controls, to name a few.

Audit and Accounting:

• Audit and assurance services (public and private companies)

• Industry-specific accounting solutions, including valuation of digital currencies, proof of ownership of digital currencies, etc.

• SEC filing support

• Transactional support for initial public offerings, alternative public offerings and private investments in public equity

• Accounting and reporting services for companies with investments in early-stage distributed ledger, digital currency, and fin-tech companies.

Tax:

• Federal, state and local tax compliance and planning
• International tax planning
• Tax provision assistance and preparation
• Global structuring for digital currency or token offers

Consulting:

• Legal and regulatory compliance – e.g., Sarbanes-Oxley Act, Investment Advisers Act, FCPA, etc.
• Enterprise value at risk assessment and risk management services
• Anti-bribery and corruption assessments – e.g., FCPA, BSA/AML, ISO 37001, etc.
• SOX 404(a) and 404(b) ICFR “readiness” and assessment
• Internal controls assessment
• Internal audit - co-sourcing, outsourcing, transformation, and optimization
• IT audit and security assessments; cyber-security awareness
• SOC 1 and SOC 2 report “readiness” and assessment
• Accounting policies and procedures
• Productivity and process improvement and performance management and reporting – e.g., tax preparation workflow, performance dashboards, etc.
• Systems implementation, documentation and project management