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This paper aims to examine the existing practice of accepting zakat payments using cryptocurrencies and crypto assets by discussing its Shariah issues.

This is qualitative research in nature, as unstructured interviews with experts in the field were conducted to understand the existing practice regarding zakat on cryptocurrencies/crypto assets while literature on the topic was reviewed to derive conclusions.

It is found that there are divergent views among contemporary Shariah scholars on the Shariah permissibility of cryptocurrency and crypto assets. As such, by evaluating the existing practices of some companies, this study has concluded that there is room to pay zakat using cryptocurrencies and from investments made on crypto assets. As long as they have been screened and classified as Shariah-compliant, they can be qualified to be part of one’s wealth from which zakat shall be paid. However, the findings of this research shall be subject to the fatwa and rules adopted in the specific jurisdiction in which the zakat payer resides. Laws made by the ruler to benefit the public ought to be considered in upholding the masalih (public interests) of all, which is in line with the legal maxim of “tasarruf al imam manut bi al-maslahah” (the ruler’s decision is dictated in favor of the people).

It is anticipated that the findings of this research will benefit zakat organizations and zakat payers in understanding how they should deal with cryptocurrencies and crypto assets in the collection and payment of zakat.

The purpose of this paper is to provide a high-level analysis of the intersection emerging cryptocurrency sector with anti-money laundering (AML) regulations and risk-based AML diligence systems maintained by financial institutions.

The analysis begins with a description of cryptocurrencies, focusing specifically on how the supporting technologies and applications increase vulnerabilities. The information will lay the foundation for examining the vulnerabilities existing in the architecture of cryptocurrency technology, as well as potential targets for regulations. The second part of the analysis will then shift focus to defining the scope of the money laundering problem associated with cryptocurrencies. An in-depth understanding of the problem is necessary to inform tailored AML legislation and regulations. The third part of the analysis will explore emerging AML regulations that govern cryptocurrencies, focusing specifically on those being developed and implemented in the United Arab Emirates (UAE). The UAE regulations will then be compared to those of the USA and European Union (EU) for comparative analysis and best practices.

The UAE has a robust legal system aimed at bolstering AML efforts while supporting widespread integration of crypto assets into business and government operations. A review of the UAE’s legislative framework reveals critical issues. First, the current regulations do not cover decentralized finance (DeFi) and non-fungible tokens (NFTs). The absence of clear regulations for DeFi and NFT protocols has created a leeway for money laundering and related criminal activities. Second, there is a high level of fragmentation in the UAE’s legislative landscape. The UAE does not have uniform, national laws that apply to all the Emirates. Fragmentation is not unique to the UAE but a major global problem that affects the USA and EU. Therefore, it is necessary to adopt a tailored approach where standard rules and regulations are responsive to the diverse aspects of cryptocurrencies. The strategy is vital, as it will be impractical to create a single legislation or law that will cover all the crypto assets, including their diverse applications. Furthermore, the Financial Action Task Force (FATF) should develop a global standard that will support a unified/harmonized application of AML/counter-terrorist financing (CTF) laws and regulations related to cryptocurrencies and the blockchain technology.

The borderless nature of digital currency and exchanges means that the existing laws and regulations are inadequate to address cross-border money laundering activities. Thus, there is an urgent need of harmonizing global regulations to ensure uniformity in applications. The quest for harmonization should be a priority as the FATF works towards developing a global standard. The global standard will support a uniform application of AML/CTF laws and regulations related to cryptocurrencies and the blockchain technology.

Given the rise of sport non-fungible tokens (NFTs) and sponsorships from cryptocurrency companies in the sport industry during the coronavirus disease 2019 (COVID-19) pandemic, this paper aims to critically frame the partnerships between cryptocurrency and sport by exploring the reception of fan tokens amongst supporters of three English Premier League clubs: Manchester City, Everton and Crystal Palace.

Drawing upon the emerging critical scholarship on cryptocurrency and the political economy of professional football, this study uses digital ethnography in an attempt to understand the major themes emanating from the online forum discussions amongst fans in response to the issuance of fan tokens by the aforementioned three clubs, among other types of partnerships with crypto companies.

The supporters’ critical deliberations revolved around the contradictions of fan tokens (as a means for supposed “fan engagement” or for financial speculation) and the utility of cryptocurrency for the public. These reactions in turn showcase a larger tension underlying the financially unstable professional football industry: the contest between the owners and the fan bases over the exchange value (for profit) and use value (for community) of the clubs.

This paper is one of the first studies to adopt a critical framework to examine the emerging partnerships between sports and cryptocurrency companies during the COVID-19 pandemic. It also provides one of the first in-depth analyses of the critical receptions of sport NFTs amongst sport fans. While contributing to the literature on fan activism/protest in the context of the commercialization and commodification of sport, the paper also raises new questions on the responsible use of cryptocurrency/NFT in sport.

The purpose of this paper is to examine potential financial accounting treatments for cryptocurrencies, including the current guidance, and compare the benefits and shortcomings of each method. It proposes the introduction and use of an intangible asset revaluation model. The study aims to inform both standard setters and financial statement preparers of the most appropriate accounting treatment of this digital asset.

This paper uses an exploratory analysis and conceptualizes each technical treatment option. For each potential treatment, this paper describes the technical accounting guidance and financial statement implications. The study also uses an illustration to compare the outcomes of each treatment option.

This paper provides insights into the most appropriate financial accounting treatment of cryptocurrencies. Findings indicate the best option is an intangible asset revaluation model that allows firms to elect a fair value option and record fluctuations in market value to other comprehensive income. This model would improve the accuracy of asset numbers while maintaining the relevance of income amounts by preventing large gains or losses from fair value fluctuations from flowing through the income statement.

The number of firms that hold cryptocurrencies on their balance sheet remains small, thus the research is limited to anecdotal and expository analysis.

The study includes implications for accounting standard setters as they continue to deliberate the appropriate financial accounting treatment for cryptocurrencies. The study can inform the standard setting process and impact future authoritative guidance.

The use of cryptocurrency is extremely popular among individual investors and consumers. Updating accounting guidance on crypto can help support a robust crypto market through a useful, informative approach to measurement and reporting. This can also aid in improving the economic prosperity of crypto investors.

This paper fulfills an identified need to examine and understand appropriate accounting guidance for cryptocurrencies. Current guidance has been deemed ineffective and there is debate regarding the proper treatment moving forward. This paper contextualizes this debate and provides suggested solutions.

The purpose of this paper is to analyse stakeholders’ perceptions on the accounting of crypto-assets. They also look at the need to amend/clarify existing accounting standards or develop new accounting standards.

The authors use a qualitative approach featuring interviews with four stakeholder groups including academics, professional bodies, standard setters and accounting practitioners. Interview recordings are transcribed and then analysed through NVivo.

The interviewees identify various issues in the application of current accounting standards to crypto-assets. The interviewees perceive that the rapid development of crypto-assets and fluidity hinder the development of accounting guidance. Hence, continuous monitoring by standard-setters is required. The general consensus is that unless there are crypto-assets with economic characteristics and functionality that are pervasive enough to warrant a new accounting standard, principles of current accounting standards are robust to address gaps in accounting requirements for crypto-assets.

This study adds to the discussion on harmonising the current practices in accounting of crypto-assets. By examining perceptions of multiple stakeholder groups, this study provides insights into the applicability of current accounting standards to the classification, measurement and disclosure of crypto-assets. The findings will inform standard setters and aid their efforts towards providing formal guidance on the accounting of crypto-assets.

In this paper, the authors examine the short-term and long-term impact of general economic policy uncertainty (EPU) and crypto-specific policy uncertainty on Bitcoin’s (BTC) exchange inflows – a form of crypto investor behaviors that the authors expect to drive the cryptocurrency volatility.

The authors use an autoregressive distributed lag (ARDL), coupled with the bounds testing approach by Pesaran et al. (2001), to analyze a weekly dataset of BTC’s exchange inflows and relevant policy uncertainty indices.

The authors observe both short-term and long-term impacts of the crypto-specific policy uncertainty on BTC’s exchange inflows, whereas the general EPU only explains these inflows in a short-term manner. In addition, the authors find exchange inflows of BTC “Granger” cause its price volatility. Furthermore, the authors document a significant and relatively persistent response of BTC volatility to shocks to its exchange inflows.

This study’s findings offer significant contributions to research in policy uncertainty and investor behaviors.

This chapter discusses legal considerations relating to digital assets. The legal aspects of tokenized and non-tokenized assets are evolving. Although some states have enacted specific laws or regulations for digital assets, Congress and federal agencies have been slower to craft specific rules and regulations for such assets. As a result, regulators, such as the Securities and Exchange Commission, Commodity Futures Trading Commission, and Internal Revenue Service, and market participants must apply existing guidance to digital assets. This chapter examines applying specific aspects of federal securities and tax law to digital assets. It also discusses general business law considerations for blockchain and cyber enterprises. The discussion of state law applications centers on the New York Virtual Currency License and Wyoming and Delaware crypto initiatives. This chapter does not provide a comprehensive review of all legal issues related to cryptocurrency. Each legal issue about cryptocurrency is complex and requires separate analyses.

The aim of this study is to examine the behavioral intention (BI) to adopt the Coinbase Wallet by Spanish users.

A survey was administered to individuals residing in Spain between March and April 2021. There were 301 questionnaires analyzed. This research applies a new predictive model based on technology acceptance model (TAM) 2, the unified theory of acceptance and use of technology (UTAUT) model, the theory of perceived risk and the commitment trust theory. A mixed partial least squares structural equation modeling (PLS-SEM)/fuzzy-set qualitative comparative analysis (fsQCA) methodology was employed for the modeling and data analysis.

The results showed that all the variables proposed have a direct and positive influence on the intention to use a Coinbase Wallet. The findings present clear directions for traders, investors and academics focused on improving their understanding of the characteristics of these markets.

First, this study addresses important concerns relating to the adoption of crypto-wallets during the global pandemic. Second, this research contributes to the existing literature by adding electronic word of mouth (e-WOM), trust, web quality and perceived risk as new drivers of the intention to use the Coinbase Wallet, providing unique and innovative insights. Finally, the study offers a solid methodological contribution by integrating linear (PLS) and nonlinear (fsQCA) techniques, showing that both methodologies provide a better understanding of the problem and a more detailed awareness of the patterns of antecedent factors.

The objective of this study is to systematically review the current body of literature in order to gain insights into the progress of research in accounting and auditing of cryptocurrencies, while also highlighting the associated risks and identifying gaps for future exploration.

To achieve this, a structured literature review was carried out, presenting a thorough and critical assessment of the available studies focused on cryptocurrencies within the accounting and auditing domain.

The analysis reveals that the majority of the research has concentrated on the reporting and measurement aspects of cryptocurrencies, neglecting the auditing aspect. Regarding the methodology, future investigations should incorporate both theoretical and empirical manners to address this gap. Various spheres require further exploration, as they have the potential to significantly impact practitioners and academics.

The significance of this paper lies in its comprehensive examination of the existing literature, synthesizing and organizing information pertaining to accounting and auditing considerations of crypto transactions. Moreover, it provides valuable insights into best practices and prompts identifying avenues for further research in this field.