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Cryptocurrency

Our Approach

The complexity of the crypto economy creates an increasing need for companies to have access to business partners who combine a thorough understanding of this new technology with subject matter expertise in a variety of fields. Armanino’s Crypto Industry team of accountants, tax specialists, developers, auditors and consultants bring in-depth knowledge of the crypto space and underlying blockchain technology.

As a firm, we’re invested in BUIDLing solutions for the future. We’ve been deeply embedded in the crypto industry for a number of years. Our Blockchain Lab has a well-established track record of helping crypto-native businesses navigate in uncharted waters. We partner with our clients for best in industry solutions in financial statement audits over digital assets, tax strategy and compliance work, outsourced accounting and ERP consulting, IT and security audits. We have done work with some of the most notable projects, startups and exchanges in the cryptocurrency space — many of them from before they were household names.

What We Do

We understand the unique challenges faced by crypto-native businesses, as well as those that are starting to transact in or hold crypto. Whether a crypto-native project, an ICO issuer, or a business new to transacting in crypto, Armanino offers a full range of specialized services backed by industry experts with proven track records.
Audit

Audit

Through a mix of proprietary methodology and technology, Armanino is the leading provider of digital assets financial statement audit. Our services include:

  • Financial statement audits and reviews
  • Agreed-upon procedures
  • Technical accounting guidance
  • Smart contract auditing and security monitoring
  • Tokenization audits and attest services
Tax

Tax

Navigating taxation for funding, ICO and high-volume trade income isn’t easy. Armanino will help ensure your best possible monetary outcomes and reduced risks. With deep blockchain-specific tax expertise, our tax advisory and compliance services include:

  • Tax structuring and design for token issuers or users
  • Option plans for founders, employees and vendors
  • Tax accounting methods (e.g., timing of income and deductions)
  • Tracking of basis of tokens and cryptocurrency
  • Understanding of changes and impacts due to tax reform (Tax Cuts and Jobs Act) on planning
  • Tax issues for U.S. shareholders and employees
  • Planning and compliance for international, inter-jurisdictional and complex tax situations (e.g., transfer pricing, tax structuring)
  • State and local tax (SALT) considerations
  • Review of risk of associating with start-up businesses
Risk Assurance and Advisory Services

Risk Assurance and Advisory Services

  • Third-party Assurance: SOC 1, SOC 2 audit and reporting
  • Smart contract security testing and monitoring
  • Know your customer AML/BSA program assessment, development and maintenance
  • Unified control frameworks for security and regulatory compliance
  • Cybersecurity program implementation and auditing
  • Japanese FSA agreed-upon procedures and segregation audits
Consulting Services

Consulting Services

To scale quickly, you have to focus on your core mission — and that’s not financial statements, taxes, payroll, billing, accounts receivable and reconciliations. Armanino’s consulting team brings 30+ years of experience working with fast-paced startups and high-growth companies. Our services include:

  • Crypto-specific accounting system selection and implementation
  • Token inventory management
  • Crypto technical accounting support
  • Outsourced finance and accounting solutions
  • Crypto interim CFO support
  • Payroll and HR management
  • Token valuations
  • Blockchain data visualization solutions

Our Team

Practice Leaders


Related Experts

Resources

Evaluating Crypto Accounting Solutions

Armanino's practical guide helps management understand the factors that should be considered when reviewing crypto accounting solutions.

Does Your Block Need a SOC?

Blockchain technology offers individual organizations the opportunity to drastically change the way in which they trust and transact with others. Learn more in Armanino's guide to understanding the role of third-part as ...

Key Considerations for Audits with Digital Assets

Armanino's practical guide helps management understand the factors that play into audit scoping considerations, as well as provide some insight into how we audit and share best practices.

Blogs

April 02, 2019

Armanino TrustExplorer: A Software Solution for the Future of Digital Assets

For some time now we have been asking ourselves, what does the future of trust and transparency look like with increased adoption of digital assets...

March 18, 2019

The Problem With ‘It’s Blockchain But Not Crypto’

As we build our new Blockchain practice, I keep on hearing the phrase “it’s blockchain, but not cryptocurrency” in an attempt to satisfy business a...

March 05, 2019

Debunking Common Misconceptions About Auditing Digital Assets

When talking with audit professionals, we have noticed a few misconceptions about auditing digital assets that are worth discussing. The most promi...

July 23, 2018

Tax Considerations for Successful ICOs

As cryptocurrency companies plan to raise capital through initial coin offerings (ICOs), it’s vital for them to evaluate the tax implications. This...

June 19, 2018

Financial Infrastructure Is Key for Cryptocurrency Company Success

As cryptocurrencies gain traction toward mainstream adoption and acceptance, companies in the cryptocurrency ecosystem must balance an influx of re...

May 21, 2018

How Blockchains Achieve Consensus: Proof of Work vs. Proof of Stake

The use cases for blockchain are now being recognized as a truly viable option for future technologies. This stems from its inherent characteristic...

Testimonials

 

Bitmex

The Armanino team displayed an expertise in our field and a set of unique solutions to address our needs

Mahmoud Ali

Security Assurance Lead, BitMEX

Coinme

We thought we would have to spend a lot of time explaining the intricacies of cryptocurrency to our auditors, but Armanino pleasantly surprised us. Their experts were well versed in blockchain technologies, and was able to easily navigate our complicated crypto transactions.

J.R. Willet

Advisor, CoinMe

Creator of the Initial Coin Offering (ICO)