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MasterSnacks - Cryptocurrency

MasterSnacks, our C-Suite Snacks spin-off, brings you a series of topic-specific courses, using our snack-sized sessions to go in depth on content important to you.

Course 1: How Companies are Making Money in Bitcoin and Cryptocurrency


Aired April 1, 2021
Presented by: Mark DiMichael, Partner

If you are considering an investment in Bitcoin and other types of cryptocurrency, watch our first MasterSnacks course to learn about how digital assets have evolved. In this session, Mark covered the basics of cryptocurrencies, including:

  • A five minute crash course on Bitcoin and Blockchain technology
  • An overview of alt-coins, digital assets, and other uses for Blockchain technology
  • How individuals and companies are making money on digital assets


Course 2: Fraud and Forensic Accounting for Digital Assets


Aired April 7, 2021
Presented by: Mark DiMichael, Partner, Katerina Gaebel, Senior

Bitcoin and other cryptocurrencies were custom designed for anonymity, which can be a major problem in cases where individuals attempt to hide their wealth from the legal system. In this session, we covered the steps and information investigators need to know in order to locate, trace, and possibly even seize crypto assets from the target of an investigation, including the following:

  • Common types of fraud involving cryptocurrency
  • The investigative process
  • Location and interpretation of evidence of cryptocurrency usage
  • Blockchain address clustering and analysis


Course 3: Operational and Internal Control Considerations for Companies Transacting in Digital Assets

Aired April 14, 2021
Presented by: Mark DiMichael, Partner, David Rosenbaum, Principal

Any organization holding or transacting in Bitcoin or other cryptocurrencies must make efforts to secure those digital assets by performing a full assessment of the risks associated with them. In this session, we covered valuable information on operating in the brave new world of Bitcoin and other digital assets. Key takeaways included:

  • Cryptocurrency basics
  • An overview of internal controls and environments
  • Wallets and separation of duties


Course 4: Legal Issues in Cryptocurrency and Blockchain


Aired April 21, 2021
Presented by: Mark DiMichael, Partner, Citrin Cooperman & Jeff Neuburger, Partner, Proskauer Rose

If your business is involved in cryptocurrency or Blockchain, it is in your best interest to understand the legal implications that may come along with transacting in digital assets. In this session, Jeff Neuburger, partner at Proskauer Rose and head of its Blockchain Practice, covered the following topics and more:

  • Categorization of cryptocurrencies as securities and resulting implications
  • Types of licenses necessary to be involved in a cryptocurrency business
  • Non-fungible tokens and associated legal issues
  • Smart contracts


Course 5: Crytocurrency Taxes on Bitcoin and Digital Assets 


Aired April 28, 2021
Presented by: Mark DiMichael, Partner, Citrin Cooperman & Peter Goodrich, Manager, Citrin Cooperman

The recent cryptocurrency bull market has attracted many new retail and institutional investors. With this transformational technology, there are tax considerations related to every transaction. During this MasterSnacks: Cryptocurrency session, we covered:

  • Taxation of digital assets
  • Unusual tax situations for crypto assets (forks, airdrops, securities, etc.)
  • Tax tips related to cryptocurrency to save time and money

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