BDO Cryptocurrency Services

Tax Compliance & Consulting

Failure to declare cryptocurrency assets renders the taxpayer liable to prosecution. We help you to report the holdings correctly and completely. As you may have read in an earlier article we published, we recently partnered up with ACCOINTING.com to provide further direction on the crypto taxation guidelines in Switzerland. Their tool provides a reliable overview of the crypto asset portfolio of each user by connecting wallets, exchanges, and other crypto services and additionally - and this is the primary reason for the partnership - a country-specific tax report. With ACCOINTING.com, we cover all questions regarding crypto taxes from legal and technical perspectives. 

Do you have questions about the deferral of tax-free capital gains or taxable income from cryptocurrencies? Our tax experts are happy to help you out!
 

General Advisory

BDO advises you on all issues related to accounting for cryptocurrencies. The appropriate handling of cryptocurrencies and ICOs has not been conclusively clarified internationally. However, our experts are in the committees of the relevant bodies and are involved in designing the new standards. As a result, you benefit from the latest details on new guidelines and standards.
 

Audits (external, internal and IT)

Audit of cryptocurrencies

Our experts have a wealth of experience in the audit field. We carry out audits to assess the power of disposition, holdings, or focus topics. Focus topics include, for example, tokenization, brokerage, custody.

Stablecoin Pegging Attestation Audits

We conduct pegging attestation audits for stablecoins. Ensuring that the stablecoin is backed by appropriate asset is critical for investors and interested parties. Therefore, we are happy to assist you by providing a report to confirm that the stablecoin is backed appropriately. 

IT process audit

IT systems are becoming increasingly complex, networked, and more difficult to organize. System changes, constant threats from inside and outside, and the risk of undetected errors require robust control. Our experts audit the functionality, reliability, and organization of your IT systems so that they can continue to operate successfully and safely.

Within the scope of our IT system audit, we uncover potential weaknesses, develop a risk assessment and a catalog of measures to minimize risks for your company, and thus optimize the security and organization of your IT systems and processes.

We directly address your individual needs and develop customized and sustainable solutions with clear added value for your company.

Internal control system (ICS)
Do you still have no ICS or only an insufficient or poorly developed ICS and are looking for a suitable solution for your company? Our model covers the following requirements:

  • Compliance with legal requirements
  • More efficient and secure financial processes as well as avoidance of errors in financial reporting
  • Simple design regarding structure, documentation, and maintenance of the system and control mechanisms using proprietary applications

We would be happy to support you with the introduction of the ICS and help you implement a solution that is right for you.
 

Financial and legal services

In the dynamic cryptocurrency environment, it is more important than ever to keep an eye on the regulatory environment, your internal controls, and the overall financial situation you are in. We are happy to support them in the following areas:

  • Support you concerning the communication with the authorities (e.g. FINMA)
  • Determine the regulatory classification of your business model
  • Advise you on questions regarding organisation, risk management, and compliance
  • Perform regulatory and financial audits (including anti-money laundering (AML) and know your customer (KYC) services)
  • Perform company valuation and develop a financing model
  • Due Diligence
  • Assess smart contracts and identify errors and security gaps in the source code
     

Global Mobility & Resettlement of legal entities

Have you or your company just moved to Switzerland, or are you considering this step? Then we have a comprehensive offer for you. Together, we will make all the considerations that need to be made so that you feel comfortable in your new home and can get off to a carefree start. For example, we will clarify all tax issues arising from your crypto holdings.