Despite the headlines surrounding the crypto asset ecosystem, many traditional businesses have opened crypto wallets in the background. This may be to support planned activity involving crypto assets or for contingency purposes. Whatever the underlying reason, it is no longer unreasonable for treasurers to be asked to open a wallet.
In response to queries from the treasury community, the ACT, in conjunction with experts from Circle, KPMG and Ramparts has compiled a guide to help treasurers assess their requirements.
On 8 June we held a webinar with representatives of the firms discussing aspects of the guide.
This guide has been developed to provide treasurers with a series of questions that will help them identify what type of wallet they need and some of the tax, accounting, and operational aspects that will require consideration.
KPMG
Maz is a Senior Associate in the KPMG UK Digital Assets consulting team specialising in strategy, technology, and risk & regulatory topics. He has hands-on experience developing blockchain applications and is the Product Owner of the UK firm’s Digital Asset audit technology.
Ramparts
Peter is the founder of Ramparts and has been involved in finance and technology since 2000 when he started his career at a leading international law firm in London. From 2013 to 2020, Peter was the CEO of the Gibraltar Betting and Gaming Association (GBGA), where he coordinated the industry on a wide range of issues, including regulatory, political and public relations matters. Peter also helped to establish the Gibraltar E-Money Association (GEMA) and has been acting as GEMA’s Secretary since 2012. Peter advises FinTech, financial services, online gaming and crypto asset businesses on a wide range of regulatory issues and interactions with the regulator; cross-border regulatory compliance; authorisations and registrations for AML (including VASP registration); cross-border tax issues; data protection; commercial contracts; corporate structuring and the establishment and operation of investment funds (including crypto asset funds).
Circle
Thanh currently serves as Director, Corporate Treasury at Circle Internet Financials, a fintech company with a flagship stablecoin product (USDC). Thanh is in charge of managing the company's corporate cash resources as well as associated banking and digital asset operations for the firm. She joined Circle in June 2021 and has since worked to further Circle's mission to become a global leading Treasury payment infrastructure through the stablecoin it issued. Before Circle, Thanh spent more than 10 years in various Treasury functions at Banks in both US and Asia. Most recently, she led the Funding desk at Santander Bank, managing the bank's overall liquidity position, including cash management, debt issuance and other strategic funding initiatives. She holds an MBA and MSF from Boston College..
A Treasurer's Guide to Opening a Crypto Wallet
Took place on 8 June 2023
