EY expands blockchain strategy in cryptocurrency tech acquisition

Top accounting firm EY has acquired technology assets and related patents of the Crypto-Asset Accounting and Tax (CAAT), a technology developed by Elevated Consciousness.

The San Francisco-based startup launched this technology to connect with multiple cryptocurrency exchanges and wallets, which allows improved visibility into cryptocurrency transactions and inventory.

The firm confirmed that the acquisition is part of its strategy to expand its blockchain-relayed work across the globe, and eventually become a leader in cryptocurrency accounting and tax.

Paul Brody, EY global innovation leader, said: “This acquisition is another element in building out a portfolio of blockchain and cryptocurrency solutions across our businesses.

“Tax strategy, planning, and execution will be a key part of everything we build across our solutions, from supply chain management to…