Security and tax issues may hinder institutions from buying cryptocurrencies

Security and tax issues may hinder institutions from buying cryptocurrencies

2021/2/27

Damien Vanderwilt, co-president of Galaxy Digital, believes that security and tax issues may hinder institutions from buying cryptocurrencies. He said: “When we talk to companies and institutional clients about investing in the field of cryptocurrency, the first consideration is security, that is, whether the assets they buy are safe, usable, and secure. The second question, especially for companies, In other words, is tax treatment, especially in the case of GAAP accounting principles in the United States, Bitcoin is regarded as an intangible asset.” However, Vanderwilt said that they are not problems that cannot be solved, nor are they things that the company cannot adapt to, but it does need some time.


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