Cryptocurrencies have grown tremendously since the invention of Bitcoin in 2009. The blockchain and cryptocurrency industry now boasts a market capitalization that hovers around $1 trillion USD – at one-point climbing over the $2 trillion mark – bigger than the global telecommunications industry. To put that in a Canadian context, the entire Canadian economy, the ninth largest in the world, hovers around $1.5 trillion CAD.
Participants in this seminar will learn about the origins of cryptocurrency, how it compares to money and other virtual currencies, how Bitcoin and Ethereum work, how cryptocurrency can be used in the real world, and how it may be used in the future. This seminar is also designed to be interactive and generate discussions relevant to CPAs in Canada – including discussions on tax implications, accounting treatment, anti-money laundering requirements, and where to get information to assist clients with their specific needs.
Participants will learn about:
- The origins of Bitcoin;
- Money vs cryptocurrency;
- Cryptocurrency vs virtual currency;
- Cryptocurrency mining;
- Cryptocurrency addresses;
- Cryptocurrency wallets;
- Bitcoin vs Ethereum;
- Stablecoins and their implications;
- Non-Fungible Tokens (NFTs) and their implications; and
- Accounting treatment, tax implications, anti-money laundering best practices and where important information.
Who will benefit:
Members in industry or public practise who want to expand their knowledge of cryptocurrencies.