Subscribe Newsletter

Author: Wei Xiang

  • [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

  • [Request] The ultimate Web3 CFO guide 2025

    [Request] The ultimate Web3 CFO guide 2025

    Wei Xiang

    ,

    1. Education is needed to help finance professionals understand Web3. Most CFOs at Web3 organizations have prior experience in financial operations, accounting, or similar roles but struggle to learn about Web3. 2. Financial Operations (FinOps) tooling in Web3 represents a tremendously underserved SaaS category. Existing payments, accounting, or enterprise resource planning (ERP) tools are illsuited… Read more

  • [KPMG] Accounting for staking activities

    [KPMG] Accounting for staking activities

    Wei Xiang

    ,

    In general, staked tokens are not derecognized by the staking entity. This is because, regardless of whether the staked tokens continue to reside in the staking entity’s digital wallet, no other entity obtains the right or ability to direct their use (e.g. the right or ability to sell, lend or otherwise transfer those crypto intangible… Read more

  • GUIDE TO CRYPTO TAX OPTIMIZATION FOR YOUR BUSINESS – PENUIL CATINGUB JR.

    GUIDE TO CRYPTO TAX OPTIMIZATION FOR YOUR BUSINESS – PENUIL CATINGUB JR.

    Wei Xiang

    WITH NEW IRS REGULATIONS EFFECTIVE JANUARY 1, 2025, THE CRYPTO TAX LANDSCAPE IS UNDERGOING SIGNIFICANT CHANGES. THIS GUIDE PROVIDES ACTIONABLE STRATEGIES TO MINIMIZE TAX LIABILITIES, ENSURE COMPLIANCE, AND OPTIMIZE YOUR FINANCIAL PERFORMANCE. Tools like Koinly and CoinLedger can help track transactions and identify loss-harvesting opportunities. Keep detailed records of all expenses, receipts, and valuation reports… Read more

  • [CIRCLE] Enhancing Global Impact with Digital Dollars

    [CIRCLE] Enhancing Global Impact with Digital Dollars

    Wei Xiang

    USDC: The World’s Digital Dollar Blockchains and USDC make it possible to safely send dollars directly over the internet instead of relying on patchwork, decades old payments infrastructure that leaves too many behind. Blockchain technology enables the near-instant and low-cost transfer of USDC. Since USDC is built with open-source technology, it is easy for organizations… Read more

  • [THE NATIONAL TREASURY AND ECONOMIC PLANNING] DRAFT NATIONAL POLICY ON VIRTUAL ASSETS AND VIRTUAL ASSET SERVICE PROVIDERS

    [THE NATIONAL TREASURY AND ECONOMIC PLANNING] DRAFT NATIONAL POLICY ON VIRTUAL ASSETS AND VIRTUAL ASSET SERVICE PROVIDERS

    Wei Xiang

    The Government of Kenya is committed to creating the necessary legal and regulatory framework in order to leverage opportunities presented by VAs and VASPs while managing the resultant risks. This policy guides the establishment of a sound legal and regulatory framework providing the fundamental foundation of a fair, competitive, and stable market for VAs and… Read more