A Korean operator (23) of a big child porn website got busted last year, 337 people around the world have been arrested since. Thanks to bitcoin.
Author: Wim Maas
Wim Maas is a lecturer at the Department of Accountancy at Tilburg University, The Netherlands. His interests include the implementation of distributed ledger technology for financial accounting and reporting purposes.
Why is bitcoin deflationary?
Why is bitcoin called deflationary? Why is it getting more expensive? Explained from an economic view and in terms you can understand.
Blockchain can prevent cum-ex fraud
Cum-ex trades have cost the European tax payer over €55 billion. Blockchain for security ownership registration could present a solution for tax authorities.
Classification and valuation issues with crypto-assets
Crypto-assets are a new asset class. This article tries to provide some insight in the difficulties in classification of this new asset class and reviews what we already know.
To sell or not to sell: Charlie’s dilemma
Founder Charlie Lee sold all his litecoin. The reason he provided is a “conflict of interest”. Investors cry “insider trading” and demand “skin in the game”. A new dilemma arises.
Accountants are unaware of blockchain
A recent poll by Accounting Today indicates that demand for education on blockchain (and other DLT) for accounting professionals is mounting. It showed that 50% of CPA’s and accountants participating in the poll did not even know what blockchain is. A further 34% admitted they need to know more and…
Coinbase ruled to report information of 14,000 users to tax authority
In a federal ruling on tuesday a judge in San Francisco ordered Coinbase, one of the leading crypto-currency exchanges in the US, to supply the IRS with the information of around 14,000 traders in crypto-curency. The IRS filed the appeal after only 800 to 900 US citizens allegedly reported capital…
This is why we need more IT auditors
The need for competent IT auditors became clear once again. Two weeks ago a self-proclaimed “newbie” Ethereum developer accidentally locked up around $168 million in strangers’ Ether funds never to be accessed again. The user called devops199 seemed to have exploited a bug in a smart contract running the so-called multi-sig…
Long debated Bitcoin hard fork called off
The hard fork that was planned to happen around November 16 is called off by the lead developers of the SegWit2x movement. The news follows a period of uncertainty over the future of the Bitcoin blockchain because of a long running divide within the community. The hard fork was intended…