ICAI to come out with concept paper on virtual currencies

Wednesday, February 14, 2018

With the rising concerns about investments in virtual currencies such as bitcoins, which have seen significant volatility in trading globally, while there is no framework yet in India to regulate such activities, to look into various aspects of virtual currencies, Institute of Chartered Accountants will soon come out with a concept paper, according to CA. Naveen N D Gupta, President, ICAI.

Additionally, the Institute is also working on developing accounting and auditing standards. According to ICAI, crypto-currencies and block chain technology are going to be game changers which is all set to transform accounting and auditing world globally.