The rise of crypto-assets creates significant challenges in terms of security, traceability, and regulatory compliance. Whether you are a crypto holder or an accountant supporting companies that own digital assets, adopting best practices is essential to ensure secure, compliant management.

1. Securing crypto wallets: a major issue for holders

Crypto-asset holders must implement robust mechanisms to protect their assets against loss, theft, and human error.

🛡️ Wallet management best practices

Use appropriate wallets:

• Cold wallets (Ledger, Trezor) for secure offline storage.
• Hot wallets (MetaMask, Trust Wallet) for everyday transactions, with two-factor authentication (2FA) enabled.

Secure private keys:

• Never store private keys or seed phrases online (emails, Google Drive, etc.).
• Keep them on a secure physical medium (safe, fire-resistant metal backup).

Plan access recovery:

• Define a procedure in case of loss (secured duplicates of keys).
• Plan succession arrangements to avoid asset loss in the event of an accident or death.

Declare foreign wallets:

• Anyone holding wallets outside France must declare them to the tax authorities or face penalties.

2. Accounting and regulatory vigilance for accountants

Accountants must ensure that companies holding crypto-assets remain compliant by identifying risks and adopting rigorous bookkeeping.

Verification and transaction monitoring

Identify the types of assets held:

• Cryptocurrencies (Bitcoin, Ethereum, etc.), security tokens, NFTs, stablecoins.

Outline the nature of operations:

• Trading, staking, mining, lending, liquidity pools.

Establish a clear audit trail:

• Systematic recording of crypto transactions.
• Use specialised software such as Crypto Accounting to ensure a match between held crypto and the accounting records.

Tax compliance and anti-money laundering

Meet tax obligations:

• Declare capital gains and disposals to the tax authorities.
• Apply the correct tax regime depending on whether transactions are occasional or habitual.

Apply AML/CFT standards:

• Verify the origin of funds (KYC).
• Document transactions to maintain traceability.

Anticipate regulatory requirements (MiCA, PSAN):

• Check whether the company must register as a Digital Asset Service Provider (PSAN).
• Prepare for the MiCA regulation’s requirements on digital asset management.

3. Managing the risk of platform shutdown

Companies and holders must anticipate the risk of an exchange platform closing or experiencing a failure.

• Regularly verify balances on centralised exchanges (CEX).
• Avoid keeping all funds on a single platform.
• Establish an asset recovery plan in case of blocking or shutdown.

Conclusion: adopt secure and compliant crypto practices

Managing crypto-assets requires a rigorous, forward-looking approach for both holders and accountants. Crypto Accounting makes the transition easier by delivering compliance, traceability, and automation, with a precise match between wallet balances and accounting records.

Anticipate, secure, and align your practices today! 🚀