What else do crypto asset companies need when wealth flows in the account?

The crypto market is experiencing an unprecedented boom, with investors increasingly calling for an "eternal bull run." In recent months, the price of Bitcoin has reached new highs and has remained steadily above $100,000; governments around the world have frequently introduced favourable information policies, optimized regulatory frameworks, and promoted healthy industry development; areas such as stablecoins and stock tokenization have attracted a large influx of new forces and ample capital, presenting a thriving scene in the entire crypto ecosystem. As of early August 2025, the total market capitalization of the global crypto market has soared to approximately $3.9 trillion, with fiat and crypto assets flowing freely across thousands of accounts and Web3 wallets in crypto companies. This is not only the creation and transfer of enormous wealth but also the new normal for business operations in the era of encryption. However, behind this flowing wealth, crypto companies face significant real-world challenges: how to efficiently and accurately manage these complex financial data?

1. The financial and tax fundamentals of crypto asset companies.

Tax management is the "invisible engine" of enterprise operations. It is not just simple bookkeeping and tax reporting, but a comprehensive system involving strategic decision-making, risk prevention, and resource optimization. In the era of crypto assets, cryptocurrency companies still need to strictly comply with international accounting standards such as GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards). These standards and rules require financial reports to be transparent, accurate, and auditable. Violation may result in hefty fines or litigation risks. In other words, neglecting tax management may pose hidden dangers for the long-term development of the enterprise.

Key aspects of tax and financial management include data collection, asset classification, report generation, and so on. Taking data collection as an example, crypto assets companies process massive transactions every day, including on-chain transfers, exchange trades, and DeFi protocol interactions. These data sources are diverse: blockchain explorers, wallet records, API interfaces, etc. If the collection is incomplete, subsequent calculations will be significantly skewed. Asset classification is more complex and depends on the specific rules of different jurisdictions. If the jurisdiction treats Bitcoin and Ethereum as property, it is necessary to calculate the Cost Basis, using methods such as FIFO (First In First Out) and LIFO (Last In First Out). Regarding report generation, complete and accurate financial statements must be timely prepared for audits and information disclosure. Additionally, strictly speaking, some crypto financial enterprises also need to comply with systems like CRS and FATCA, reporting clients' financial information to the tax authorities of their jurisdiction, which is also a cumbersome task.

2. The Three Major Accounting Challenges for Crypto Assets Companies

In fact, cryptocurrency companies face three major accounting challenges that arise from the uniqueness of blockchain technology and the limitations of traditional financial systems. If not addressed, these challenges will directly impact the operational efficiency of cryptocurrency companies and exacerbate compliance risks.

Insufficient audit preparation is a primary pain point. On-chain data is often fragmented and difficult to align with IFRS/GAAP standards, leading to unclear financial reporting and a sharp increase in audit and compliance risks. Many enterprises lack standardized templates specifically for crypto financial statements and audit trails, having to rely on manual processing. This method is not only time-consuming but also prone to errors. For example, a complex DeFi transaction may involve multiple smart contracts, and manually tracking the cost basis and Fair Value can lead to valuation discrepancies that may result in tax disputes.

The problem of data integration is also prominent. The structure of crypto transactions is complex, often involving multiple public chains and centralized platforms. Additionally, the weak control of cryptocurrency companies over asset classification and access permissions poses multiple obstacles to establishing a unified asset view. This directly delays the internal reporting process and reduces decision-making efficiency across departments.

The incompatibility of crypto assets with traditional ERP systems is yet another persistent issue. Mainstream ERPs like Oracle, SAP, and NetSuite cannot properly handle crypto transactions, which may lead to interruptions in asset records, discrepancies in intermediary reconciliations, and a decline in overall financial accuracy. In fact, traditional ERP systems were designed for fiat accounting, but they often struggle with the "non-standardized" data of blockchain.

3. FinTax Suite: An Ideal Accounting Tool for Crypto Assets Companies

In the face of the aforementioned accounting challenges, FinTax Suite stands out. As an accounting tool specifically designed for crypto companies, FinTax Suite is not just simple bookkeeping software; it is a comprehensive suite that integrates advanced technology and professional support, adopted by numerous Web3 pioneers and listed companies. Its powerful features cover audit compliance, precise management, and seamless integration, allowing financial and tax management to transform from developmental pain points into long-term advantages.

First of all, the FinTax Suite provides audit-ready GAAP/IFRS compliant reports, which is one of its core highlights. It can generate dedicated financial statements for Crypto Assets, including balance sheets, income statements, and cash flow statements, which meet audit requirements and support regulatory review. More importantly, the FinTax Suite is equipped with a professional CPA team that can answer questions 24/7, helping companies respond to complex accounting scenarios in real time.

Secondly, precise financial management is another major function of FinTax Suite. FinTax Suite uses an intelligent tagging system to achieve clear classification of transactions, automatically identifying various types of income and expenses, and supports multiple cost basis calculation methods such as FIFO, LIFO, etc. FinTax Suite supports multi-layer organizational structure and permission control, allowing companies to customize access based on roles, ensuring data security while guaranteeing the efficient use of data. The real-time visual reports provided by FinTax Suite can also assist the company's management in decision-making, providing precise financial information support.

Finally, seamless ERP integration allows the FinTax Suite to truly fit into the ecosystem of cryptocurrency companies. The FinTax Suite seamlessly connects with mainstream ERP systems such as Oracle, NetSuite, SAP, QuickBooks, and Xero, mapping crypto transactions to traditional accounts, ensuring the accuracy and consistency of financial records, and effectively resolving issues such as interruptions in financial records.

4. FinTax Suite: A Necessary Choice for Crypto Financial Management

Looking ahead, the crypto market will continue to expand, and the regulatory framework will become increasingly完善, leading to more market opportunities. However, in a loose and friendly regulatory environment alongside a vibrant market, the demands for financial compliance and management will also be higher, with real-time tracking, automated reporting, and global compliance becoming standard. Against this backdrop, traditional financial management methods and systems are becoming increasingly outdated.

FinTax Suite is an accounting software specifically designed for cryptocurrency companies. It features a modular design, allowing for flexible configuration of functions and permissions. This supports enterprises in highly customized management according to their organizational structure and personnel division, and it can seamlessly integrate with existing ERP systems, effectively addressing the shortcomings of traditional ERP in the accounting of crypto assets. The system connects comprehensively with mainstream exchanges and public chains, integrating real-time trading data and token exchange rate information to ensure the integrity and timeliness of financial data. At the same time, FinTax Suite provides an audit-friendly accounting processing mechanism, compliant with international IFRS and US GAAP accounting standards, facilitating enterprises to quickly respond to compliance reviews and audit requirements.

In conclusion, as wealth flows between accounts and Wallets, the FinTax Suite, as an enterprise-level Crypto Assets financial suite, will continuously provide users' enterprises with an excellent crypto accounting management experience, helping users' enterprises reduce costs and increase efficiency, while ensuring stable and long-term development.