Top four global accounting group Deloitte Touche Tohmatsu Ltd. (Deloitte) has joined the Australian Digital Currency Commerce Association (ADCCA,) the peak industry group representing digital currency traders in Australia.
According to iTnews, Deloitte is planning to participate in ADCCA through a working group tasked with creating accounting standards for businesses dealing in cryptocurrencies, in particular, Bitcoin.
Based in Sydney ADCCA represents the rapidly emerging digital currency businesses sector and those engaged in the wider FinTech community.
The group serves to link members voices to Government and cross-industry stakeholders, including in the financial service sector, and provides services that ensure members are able to meet best practice standards as they seek to grow their cryptocurrency and Fintech businesses.
ADCCA also advocates for a self-regulatory framework and code of conduct based on industry best practice for cryptocurrencies, that is modelled on the Australian Payments Clearing Association (APCA) framework that currently applies to Australian banks and other financial institutions that deal with fiat currency.
“Deloitte has had an interest in digital currencies for quite some time, so this was a great opportunity to get involved. Digital currencies have a lot of momentum at the moment,” Deloitte Australia Partner Jonathan Perkinson told iTnews.
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http://siliconangle.com/blog/2015/07/19/deloitte-joins-australian-cryptocurrency-group-to-work-on-bitcoin-accounting-standards/
