Compliance
The upcoming Davos 2026 gathering is set to explore the integration of cryptocurrency into payroll systems, emphasizing compliance as a key to innovation. Discussions will address regulatory frameworks like the EU's MiCA and the US GENIUS Act to guide small and medium-sized enterprises (SMEs) in adopting digital assets. Blockchain technology emerges as a tool to streamline cross-border payments and reduce costs compared to traditional systems like SWIFT.
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A recent survey by tax software provider Avalara reveals that nearly half of accounts payable executives lack confidence in understanding upcoming 1099 reporting thresholds. Just over half are preparing for the new 1099-DA form related to digital assets. Unclear IRS guidance is cited as a major source of uncertainty.