Accounting Blockchain Coalition
The Accounting Blockchain Coalition (ABC) is an industry association dedicated to educating businesses and organizations on accounting matters relevant to digital assets and distributed ledger technology, including blockchain. It was founded by industry leaders from accounting, law, tax, technology, and higher education1. The coalition provides a platform for accounting and tax professionals to enhance their knowledge, contribute their expertise, and foster best practices in the rapidly evolving field of blockchain and digital assets.
Here are some key points about the ABC:
Mission: The ABC’s mission is to help organizations navigate accounting issues related to digital assets and distributed ledger technologies.
Educational Focus: As the first and premier industry association focused on education and knowledge sharing among accountants and tax professionals involved in digital assets, the ABC has paved the way for early industry participants to gain the expertise they need. They offer CPE-accredited online courses to enhance professionals’ understanding of blockchain and digital asset accounting2.
Recent Contribution: The ABC, along with the Global Digital Asset & Cryptocurrency Association (GDCA), provided input to the Organization for Economic Co-operation and Development (OECD) on the proposed Crypto Assets Reporting Framework (CARF). This framework aims to address reporting requirements for crypto assets, but its detailed data reporting and potential burden on industry participants have raised concerns3.
