Digital Assets & Fintech: Emerging Issues Self-Study Webinar
Overview
As digital assets, blockchain applications, and fintech innovations continue to evolve, broker-dealers face a complex mix of regulatory, operational, and compliance challenges. This self-study webinar discusses the following areas:
- The use of digital and crypto assets by broker-dealers
- Current updates and what to expect in the future
- Fintech integration in broker-dealer operations and expectations going forward
- Custody and safeguarding obligations
- The growing use of AI, tokenization, and programmable compliance
- Cost basis tracking and accounting, including the impact of distributed ledger technology
- Recent IRS guidance affecting digital assets
- Recognition and fair value accounting for digital assets
Objective
To provide CPAs and other financial professionals with an understanding of the evolving digital asset and FinTech landscape, including key regulatory, accounting, tax, custody, and governance considerations, and to help them recognize emerging risks and reporting requirements affecting these technologies.
DETAILED LEARNING OBJECTIVES
• Describe the fundamental characteristics of blockchain technology and distributed ledger systems
• Recognize the benefits of blockchain technology, including secure and tamper-resistant recordkeeping
• Identify key features of blockchain environments, including decentralized recordkeeping
• Recognize the accounting and regulatory challenges associated with digital assets
• Identify how FinTech solutions use emerging technologies to improve efficiency, automation, and customer experiences
• Recognize the importance of governance, risk management, and internal controls when implementing emerging technologies
• Identify potential applications and benefits of blockchain technology within accounting and finance functions
• Evaluate the implications of digital assets and FinTech developments for financial reporting, internal controls, and professional responsibilities
Emphasis
- Regulatory Landscape
– SEC, CFTC, and FINRA developments
– Market structure evolution
– Regulatory expectations
– Operational compliance - Digital Asset Infrastructure
– Tokenized securities
– Stablecoins
– Digital asset custody
– Programmable compliance - Risk Management & Governance
– AML and KYC requirements
– Supervisory controls
– Cybersecurity
– Lessons from digital asset market failures
– AI and blockchain analytics - Digital Asset Accounting
– Fair value accounting under ASU 2023-08
– Cost basis tracking
– Digital asset accounting systems
– Pre-ASU accounting guidance
– Financial statement disclosures
– Ownership and custody considerations - Taxation of Digital Assets
– IRS guidance
– Hard forks and airdrops
– NFTs
– Reporting requirements
– Digital asset transactions - Emerging Issues
– Financial reporting
– Custody arrangements
– Institutional adoption
– Future regulatory and accounting developments
Speakers
Mark DiMichael, Partner, Citrin Cooperman
James A. Wolff, Partner, Greenspoon Marder LLP
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