Accounting services firm Ernst & Young LLP has acquired certain technology assets and related patents of the Andy Crypto-Asset Accounting and Tax (CAAT) tool from San Francisco, California-based startup Elevated Consciousness, Inc. to boost its services for crypto assets such as Bitcoin.
The CAAT tool connects with multiple cryptocurrency exchanges and wallets, allowing better visibility into cryptocurrency transactions and inventory.
Technologies such as CAAT can help Ernst & Young member firms and their clients effectively assess their risk related to reporting taxable income for this new asset class of cryptocurrencies.
It will also enable Ernst & Young to provide its services to various companies adopting crypto-assets in the evolving regulatory environment.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.