SPV cryptocurrency investment
On top of our general special purpose vehicle formation services, we take it a step further for our clients interested in getting in the cryptocurrency market by helping our clients set up special purpose vehicles (SPV) that are specifically geared towards investing in cryptocurrency offerings. After the SPV is set up, we assist our clients in managing the SPV by ensuring legal compliance and mitigating risk.
A cryptocurrency wallet is a software program that stores private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance. At Assure, we work with whatever wallet our client is most comfortable to assure that security policies are followed.
When the time comes to distribute assets Assure has experience in distributing cryptocurrency to investors and experience liquidating cryptocurrency into US Dollars and then distributing dollars to investors.
Cryptocurrency Tax Compliance
Earned cryptocurrency, and money made from the distribution of a cryptocurrency, is taxable like other forms of income. However, according to the IRS, cryptocurrency currently is considered to be “property,” instead of a currency. We help our clients prepare cryptocurrency--related tax returns that are compliant with current federal regulations.