In addition to addressing the investor, several chapters are written specifically for advisors on regulations, taxation and compliance. With these chapters, the investor can get a look behind the scenes at what advisors deal with, Edelman said.
“Much of the taxation of digital assets and returns is like other taxes, but other things are new and the IRS has not issued regulations for these areas yet,” he said. In addition, other things remain unsettled, such as how advisors fill out their ADV forms.
Edelman wrote in the book, “It was inevitable that somebody would figure out how to digitize money. Digital assets replace the trust economy with an authentication economy. As more banks develop blockchain technology, (it) will add nearly $2 trillion to the $80 trillion global economy by 2030. Bitcoin is the most profitable asset in history.”
“Blockchain technology is revolutionary – perhaps the most profound innovation for global commerce since the invention of the internet. Bitcoin and other digital assets represent a potentially huge opportunity for investors, but most don’t know how to navigate this new asset class,” he wrote.
In addition to the new book, Edelman founded the Digital Assets Council of Financial Professionals four years ago, which is a provider of digital assets education for financial advisors.