Subscribe Newsletter

Author: Wei Xiang

  • [ISCA] Stablecoins 101 (Part 1)

    [ISCA] Stablecoins 101 (Part 1)

    Wei Xiang

    Stablecoins are digital assets designed to maintain a stable value by pegging to a reserve asset such as fiat currency, commodity, or algorithmic mechanisms. Their primary purpose is to mitigate the volatility inherent in traditional cryptocurrencies like Bitcoin and Ethereum. Types of stablecoins Fiat-collateralised stablecoins dominate the stablecoin market, typically accounting for over 90% of the… Read more

  • [Continuum] Protecting Digital Assets: Essential Tips for Financial Security

    [Continuum] Protecting Digital Assets: Essential Tips for Financial Security

    Wei Xiang

    Digital assets, encompassing cryptocurrencies, digital tokens, and other blockchain-based financial instruments, have become integral components of the modern financial ecosystem. As businesses increasingly engage with the sector, protecting digital assets through a combination of secure storage backed up by specialized insurance coverage has never been more critical. Traditional insurance policies often fall short in addressing… Read more

  • SFC extends swift licensing process to new virtual asset trading platform applicants

    SFC extends swift licensing process to new virtual asset trading platform applicants

    Wei Xiang

    The Securities and Futures Commission (SFC) announced that all new virtual asset trading platform (VATP) applicants can now seek licences under its swift licensing process. This new licensing approach requires VATP applicants to implement their policies, procedures, systems and controls before conducting an external assessment on these measures. The SFC will become a party to… Read more

  • [CAMUSO|CPA] Web3 Accounting: Setting Up Your Chart of Accounts

    [CAMUSO|CPA] Web3 Accounting: Setting Up Your Chart of Accounts

    Wei Xiang

    Establishing a Robust Chart of Accounts for Your Web3 Business In the ever-evolving landscape of Web3, setting up an accounting system tailored to your business is crucial. One of the foundational steps in this process is establishing a robust Chart of Accounts (COA). This guide delves into the intricacies of creating a COA, providing you… Read more

  • [KPMG] Crypto intangible assets

    [KPMG] Crypto intangible assets

    Wei Xiang

    This KPMG report provides a comprehensive guide to the accounting treatment of crypto intangible assets under U.S. GAAP, focusing on entities that are not broker-dealers or investment companies. Key Points: Read more

  • [Deloitte] SAB 121 and Done: SEC Issues SAB 122 to Rescind Guidance on Safeguarding Crypto Assets

    [Deloitte] SAB 121 and Done: SEC Issues SAB 122 to Rescind Guidance on Safeguarding Crypto Assets

    Wei Xiang

    On January 23, 2025, the SEC issued Staff Accounting Bulletin (SAB) No. 122 to rescind SAB 121, which had previously required entities to recognize liabilities and corresponding assets for the safeguarding of crypto assets. SAB 121, introduced in March 2022, caused significant changes to financial reporting by requiring the fair value of safeguarded crypto assets… Read more

  • [KPMG] SEC rescinds SAB 121

    [KPMG] SEC rescinds SAB 121

    Wei Xiang

    Breaking News for Crypto Businesses: SEC Rescinds SAB 121! The SEC has made a significant move by rescinding SAB 121, which previously required companies to recognize certain crypto assets. This shift provides more flexibility in how crypto assets are reported, offering clearer guidelines for businesses in the digital asset space. Key Implications:1. Easier accounting for… Read more

  • [OKX] The State of DEXs 2025

    [OKX] The State of DEXs 2025

    Wei Xiang

    This report focuses on DEXs — the lifeblood of the Web3 economy. The rise of DEXs have been unstoppable, with the DEX to CEX spot volume reaching an all-time high. Decentralized, borderless, and community-driven, they embody the core ethos of crypto. By analyzing their evolution, highlighting challenges, and showcasing new opportunities, we hope to provide… Read more

  • [VIRTUAL ASSETS CHAMBER] VIRTUAL ASSETS SERVICE PROVIDERS BILL, 2025 REVIEW

    [VIRTUAL ASSETS CHAMBER] VIRTUAL ASSETS SERVICE PROVIDERS BILL, 2025 REVIEW

    Wei Xiang

    MISSION: CREATING SAFE SPACES FOR SENSITIVE CONVERSATIONS: WITHOUT THE FEAR OF BEING PROFILED AND TARGETED. PROPOSED VIRTUAL ASSETS SERVICE PROVIDER BILL: WHO IS REGULATED? PROPOSED VIRTUAL ASSETS SERVICE PROVIDER BILL: ANY REGULATORY REQUIREMENTS? Read more

  • [BEOSIN] SOUTHEAST ASIA ON-CHAIN CAPITAL FLOW AND RISK ANALYSIS REPORT

    [BEOSIN] SOUTHEAST ASIA ON-CHAIN CAPITAL FLOW AND RISK ANALYSIS REPORT

    Wei Xiang

    In recent years, cryptocurrency adoption and popularity in Southeast Asia have significantly increased. As an emerging market, Southeast Asia has unique characteristics in terms of its economic structure, policy environment, and user behavior, notably: Rapid User Growth: With a high proportion of young people and widespread mobile internet access, the number of crypto users in… Read more