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Deloitte and Bloomberg Tax & Accounting Announce the Release of a Comprehensive Tax Management Portfolio on Taxation of Cryptocurrency and Other Digital Assets

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Portfolio Provides Comprehensive Guide of Federal Crypto and Other Digital Assets Tax Rules

NEW YORK, June 10, 2024  /PRNewswire/ — In an effort to provide clear guidance on complex tax issues involving digital assets, Deloitte and Bloomberg Tax & Accounting today announced the publication of Tax Management Portfolio Taxation of Cryptocurrency and Other Digital Assets, No. 190-2nd, which is now available on the Bloomberg Tax Research platform.

As the ultimate guide to the tax treatment of digital assets, Portfolio 190 examines the U.S. federal income taxation of digital assets, including cryptocurrencies. It provides a detailed analysis of the classification of digital assets for tax purposes and offers an inclusive overview of the digital asset ecosystem, tax guidance to date and accounting treatment. The Portfolio further delves into the tax implications of using, dealing, trading and investing in digital assets, and addresses novel tax questions raised by digital asset transactions. 

“Digital assets and blockchain technologies are reshaping our financial system and broader commercial activities,” said Rob Massey, partner, global & U.S. Tax Blockchain & Digital Assets leader, Deloitte Tax LLP, and a principal author of Portfolio 190. “The transformative impact of blockchain and digital assets is inspiring a fresh lens on the tax implications of these transactions. There is limited tax guidance that is directly on point which leads many practitioners to use analogies, case law and basic tax principles. This Portfolio represents a significant step forward in offering comprehensive insights on the tax considerations of digital asset transactions. We are incredibly proud of the effort to produce this Portfolio, which involved collaboration among more than 50 leaders across Deloitte Tax who came together to produce this comprehensive resource.”

Portfolio 190 also discusses the potential consequences of activities and transactions undertaken by certain types of investment entities, outlines the necessary information reporting standards and provides an overview of select international and state tax considerations surrounding digital assets. It covers the concept of a barter transaction and the tax implications of using digital assets in place of fiat currency for ordinary business transactions. Additionally, the Portfolio details the new types of financial products that are based on digital assets and the unique tax considerations based on their design. Finally, it covers compensation matters involving digital assets and tax considerations for individuals, estates and trusts who invest in or use digital assets.

“The taxation of digital assets is complicated, often involving unique business models that require careful consideration of the technology as well as the facts and circumstances surrounding the transactions,” said Conor O’Brien, senior manager, Deloitte Tax LLP, and a principal author of Portfolio 190. “This Portfolio is intended to serve as a guide for navigating these complexities and references relevant authoritative tax frameworks.”

“The world of digital assets is rapidly evolving, and it’s crucial that tax professionals have access to perspectives and examples from thought leaders who share real-life examples and scenarios,” said Heather Rothman, vice president of analysis & content, Bloomberg Tax & Accounting. “This Portfolio’s valuable guidance, enabling tax professionals to navigate the complexities and better serve their clients and organizations in this evolving landscape, is a testament of Bloomberg Tax’s commitment to provide our customers with practical and insightful tax guidance they can trust.”

The Tax Management Portfolio, Taxation of Cryptocurrency and Other Digital Assets, No. 190-2nd can be cited as a reference for digital assets taxation, marking a significant contribution to the evolving discourse on the taxation of cryptocurrencies and other digital assets.

About Bloomberg Tax & Accounting
Bloomberg Tax & Accounting provides practitioner-driven research and technology solutions that deliver timely, strategic insights to enable smarter decisions. From our unparalleled Tax Management Portfolios to technology designed to streamline the most complex planning and compliance scenarios, we deliver essential news and analysis, practical perspectives, and software that help tax and accounting professionals around the globe mitigate risk and maximize business results. For more information, visit Bloomberg Tax.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 457,000 people worldwide connect for impact at www.deloitte.com.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

 

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Huya Launches Vietnam’s First College Music Competition: “Rising-Z”

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HO CHI MINH CITY, Vietnam, May 28, 2025 /PRNewswire/ — Huya Inc., in partnership with Guangzhou Broadcasting Network and Zing Mp3, is excited to launch the first-ever “Rising-Z” music competition for college students in Vietnam. This flagship event, part of the “Year of China-Vietnam Cultural Exchange,” is designed to foster closer cultural ties between young people from both countries.

As the signature youth cultural brand of Guangzhou Broadcasting Network, “Can Sing” has captivated millions of students across the Greater Bay Area over the past three years. By integrating culture, tourism, and music, the event has become a driving force for local cultural tourism, recognized as a key part of Guangzhou’s 2025 “Greater Bay Area Music Festival.” Now, in 2025, Huya Live is joining forces with “Can Sing” to spotlight regional cultural fusion, empower young musicians, and expand international outreach, showcasing the creativity and energy of youth culture from the Greater Bay Area to Southeast Asia.

Huya Live will exclusively oversee the Vietnam regional auditions, while Zing Mp3—the country’s biggest music streaming platform—will serve as the exclusive music partner. With music at its core and a fresh street dance twist, “Rising-Z” promises to create a vibrant and inspiring stage for Vietnamese college students. More than just a competition, “Rising-Z” stands for the “rising Generation Z” and represents a “musical bridge” that connects cultures. Through original works and bilingual covers of classic Chinese and Vietnamese songs, the event aims to spark a new era of creative collaboration among young artists from both countries.

This competition applies a creative competition format combining online and offline. The Sino-Vietnam International Jury is specially invited, including: DONG QUANG VINH (ĐồNG QUANG VINH) – the music director and permanent conductor of the Vietnam National Opera and Ballet Theatre – Vietnam New Vitality National Orchestra; Truong Gia Quyen – Professor of the Chinese Department of Social Sciences and Humanities of the Ho Chi Minh City National University, Zhao Chufeng – A&R and Producer of Sony Music Entertainment China, etc.

This marks Huya Live’s very first venture as a primary organizer of an international music exchange event. Drawing on deep networks among overseas colleges and local partners, Huya Live is setting a new standard for cross-border music and cultural collaborations—working closely with government agencies and leading platforms in both China and Vietnam to open a new chapter in youth cultural exchange.

In terms of the schedule arrangement, The Vietnam auditions will begin on June 1st. Vietnamese music enthusiasts will move through auditions, semi-finals, finals, and online voting throughout July and August, with the regional champion crowned in Ho Chi Minh City. Winners will travel to Guangzhou, China, in late September for the grand finale—vying for the title of the brightest rising star among Chinese and Vietnamese youth. They will also have a chance to participate in music exchange trips, performances, and study tours in China, guided by distinguished university mentors—unlocking their full potential and even earning opportunities to officially release their music.

A Huya representative shared: “With China and Vietnam deepening youth exchanges, Huya is committed to using music to build a Vietnam College Alliance in collaboration with government partners over the next three years—creating a new platform for ASEAN youth to connect across borders. By localizing our event and embracing interactive, youth-driven entertainment, we aim to build a lasting bond with Generation Z throughout Southeast Asia.”

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Teamflect Unveils AI HR Partners: Transforming Human Resources into a Strategic Powerhouse

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LONDON, May 28, 2025 /CNW/ — Teamflect, the all-in-one performance management platform built for Microsoft Teams, announces the beta launch of its AI HR Partners. A groundbreaking feature that aims to revolutionize HR operations by automating routine tasks, enabling HR professionals to dedicate more time to employee engagement and development.

Where exactly did the need for this feature arise? Today, HR teams are often overwhelmed with administrative duties, leaving little time for meaningful employee interactions. Recognizing this challenge, Teamflect designed these AI HR Partners to act as intelligent collaborators, streamlining processes and enhancing the overall HR experience.

This launch comes at a critical time. A recent Forbes study revealed that job burnout has reached an all-time high of 66% in 2025, underscoring the urgent need for solutions that alleviate HR burdens and promote employee well-being.

Key Features of Teamflect’s AI HR Partners:

Personalized Development Plans: Instantly generate tailored growth paths for employees based on roles, competencies, and goals.Smart Goal Suggestions: Leverage historical data to recommend Objectives and Key Results (OKRs) aligned with organizational priorities.Insightful Performance Summaries: Produce concise summaries of reviews and one-on-one meetings, offering actionable insights for managers and HR professionals.Proactive Engagement Nudges: Receive timely reminders to foster team recognition and ensure regular check-ins.Seamless Integration: Operate entirely within Microsoft Teams, eliminating the need to switch platforms.

“Our goal is not to replace HR teams but to augment their capabilities” said Bora Ünlü, Co-Founder of Teamflect. “With these AI HR Partners, we’re providing HR professionals with a reliable assistant that handles all their repetitive tasks, so they can dedicate more time to what truly matters, their people.”

Currently in closed beta, Teamflect’s AI HR Partners are being piloted by companies across various sectors, including technology, finance, and healthcare, with employee sizes ranging from 100 to 10,000. Early feedback indicates significant improvements in efficiency and employee satisfaction.

About Teamflect

Teamflect is a comprehensive performance management software solution designed specifically for Microsoft Teams and Outlook. From goal setting and performance reviews to employee recognition and career development, Teamflect streamlines HR processes, enabling organizations to manage their workforce effectively without leaving their preferred communication platforms. Trusted by thousands of teams worldwide, Teamflect transforms Microsoft Teams into a powerful HR workspace.

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Holborn Africa Sets Out Ambitious Plans for 2025

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DUBAI, UAE, May 27, 2025 /PRNewswire/ — Today, Holborn Assets South Africa announced significant milestones in client growth and digital transformation and is poised to further solidify its position in the African market in 2025.

The African arm of the company achieved impressive growth and year-over-year performance in 2024.

The financial service provider saw assets under management (AUM) increase by 32%. Several key hires took the headcount to nearly 100 specialists across all regional offices to support a growing client base.

With the launch of the new website and app, the company hopes to capitalise on its success and grow its presence in the region.

Lourens Reichert, Managing Partner of Holborn Africa, said: “The launch of our new website and app reflects our commitment to providing innovative and accessible global financial services.

“Our expansion plans and focus on emerging trends will enable us to further differentiate Holborn from our competitors.

“This is just the beginning of an exciting new chapter for our company and our clients.”

Holborn’s targets for 2025 for the region include boosting AUM by 40% and increasing recruitment efforts.

This year, the company is placing a heavy emphasis on technology-driven solutions and data analytics to improve client services further.

Mark McAllister, Senior Partner for Holborn Cape Town, said: “2025 is shaping up to be an exciting year.

“The outstanding feedback we’ve received underscores the strength of our relationships and our commitment to exceptional service.”

“As we move forward, we remain committed to providing exceptional service and maintaining the high standards our clients deserve and expect.”

The launch of the new South Africa website is the latest digital offering from the company this year. It follows the release of the Holborn App, an all-in-one wealth management platform for iOS and Android.

The recent digital push has helped position the company as a forward-thinking player in the market.

Simon Parker, Holborn Assets Chief Operating Officer, said: “South Africa is a crucial region for the group and one where we see tremendous growth potential.

“Holborn will continue to invest in what is one of our core regions and support our teams on the ground.

“Our plans for 2025 and beyond will see us further expanding our footprint in Africa to better serve our growing client base across the continent.”

To learn more about Holborn Assets Africa and its services in South Africa and beyond, please visit www.holbornassets.co.za.

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