Leading MSBs trust MetaCounts
What we offer
We provide end-to-end support for Crypto MSBs, ensuring compliance, accurate reporting, and financial clarity. From ongoing tax management to complex operational challenges, our tailored solutions help you stay focused on growth.
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MetaCounts
Typical Accounting Firm
Fiat Bookkeeping
Crypto Bookkeeping for MSBs
MSB Registration & Compliance
FINTRAC Reporting & AML Compliance
GST/HST for Crypto Transactions
Foreign Shareholder MSB’s Support
Crypto Payroll for MSBs
High-Volume Transaction Reconciliation
CRA Audit Support for MSBs
New MSB License Acquisition Tax Support
Blockchain Consulting for MSBs
“As a founder, my runway is my lifeline. Brex’s app lets me track, manage, and report on investor funds and burn rates with a few taps from wherever I work.”
- Chris Housser, Head of Strategy
Frequently asked questions
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Why do I need a specialized crypto accountant for my MSB rather than relying on a traditional accountant?
Crypto MSBs involve layers of complexity that traditional accountants mostly stutter at. Unlike standard fiat operations, MSBs face challenges such as:
Complex Transaction Structures: Multi-step crypto transactions → including buying, selling, exchanging, and transferring assets - require precise tracking to capture tax liabilities (e.g., GST/HST on service fees, withholding tax on repatriated profits, etc.).
Regulatory Nuances: MSBs navigate CRA and FINTRAC regulations, including MSB registration, AML/KYC measures, and cross-border tax obligations specific to crypto activities.
Dynamic Asset Valuation: The volatile nature of crypto assets demands real-time valuation methods that integrate fair market value calculations into your balance sheet. Our specialized team understands these nuances, ensuring your books accurately reflect the unique tax and compliance requirements for crypto MSBs.
We already have an internal accounting team. How can MetaCounts add value to our MSB operations?
Even with an in-house team, managing the growing volume and complexity of crypto transactions can be overwhelming. MetaCounts offers:
Advanced Reconciliation Support: We reconcile your crypto wallets and exchange accounts, generating detailed journal entries with comprehensive calculations.
Seamless Integration: Whether you forward our entries to your internal system or push them directly into your preferred crypto accounting platform, we ensure consistency and accuracy.
Scalable Expertise: As your transaction volumes increase, our support supplements your internal team by preparing specialized crypto reports for stakeholder decision-making and assisting in system migrations to crypto-specific software—ensuring your cost basis is accurately maintained from day one.
What crypto accounting platforms do you support for MSBs?
We have extensive experience with major crypto accounting platforms, including industry leaders such as Bitwave and Cryptoworth. Our team is adaptable and can integrate our services with your existing setup—whether you use these platforms or other systems—ensuring that your crypto MSB’s unique needs are met without disruption.
How will MetaCounts access and manage our MSB transaction data?
To ensure a smooth onboarding process, we provide you with a detailed instructions document outlining the information we require. Typically, our process involves:
Data Imports via CSV and Read-Only APIs: We gather data from exchange accounts and wallet addresses to capture every transaction detail.
Periodic Snapshots: For additional accuracy, we may request wallet balance snapshots and centralized exchange statements to reconcile end-of-period token holdings.
Continuous Automation: Once connected, our system automatically imports new transactions, ensuring your books are continuously updated and audit-ready.
Our MSB handles hundreds of wallets and complex blockchain contracts. How do you manage this scale?
Can you provide GAAP/IFRS-compliant financial reports for our MSB?
Yes, we can. Our reporting processes are designed to meet the stringent requirements of listed companies and regulated entities. We prepare financial statements adhering to GAAP/IFRS guidelines, ensuring that your MSB’s financial information is accurate, reliable, and compliant with regulatory standards.
What is the pricing structure for your crypto MSB services?
Our pricing is tailored to the volume and complexity of your operations. The process includes:
Initial Assessment: We ask you to complete a brief form so we can analyze your transaction data and workload.
Budget & Hourly Estimates: You’ll receive a ballpark estimate based on an hourly rate and anticipated hours. If we work fewer hours than estimated, you’re billed only for the actual time spent; if additional time is required, we’ll seek your approval with clear justifications.
Cost Efficiency: Our outsourced service costs significantly less than employing a full-time crypto accounting specialist, providing you with high-level expertise without the overhead.
Do you offer additional services beyond crypto MSB tax compliance?
Absolutely. In addition to specialized MSB tax compliance and bookkeeping, we offer a full suite of financial services including:
Fiat bookkeeping integration
CFO advisory and payroll services
Year-end financial statements and monthly compliance support
Customized reports for strategic decision-making
Our experienced professionals, including CPAs and CFAs, are dedicated to ensuring every facet of your financial reporting meets your specific needs.
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