The American Institute of CPAs updated a practice aid on auditing stablecoins and cryptomining revenue, and asked the IRS to speed up name and address changes.

The Financial Accounting Standards Board issued a proposed ASU to clarify how the definition of cash equivalents applies to digital assets such as stablecoins.

The Treasury Department issued a notice of proposed rulemaking on implementing a section of the GENIUS Act on who can sell digital assets pegged to a fiat currency like the U.S. dollar.

After years of promises, stablecoin issuer Tether said it has received a full independent audit of its financial statements for the first time.

The United States is closer than it has ever been to a coherent framework for digital assets, and the accounting profession has a direct stake in getting the next few months right.

The proposal would impose a new requirement on Trump, who isn't currently required to sell his assets while serving in office.

Crypto assets do not clearly meet the definitions of cash, financial instruments or inventory under GAAP, leaving preparers uncertain.

Paper notices that include QR codes are leading recipients to a spoofed Internal Revenue Service website.

The IRS's Criminal Investigation unit issued a fraud alert warning about scammers who are targeting cryptocurrency holders with convincing fake IRS letters.

He reported earning income of less than $5,000 in 2020, 2021 and 2022, but actually earned more than $7 million from his hedge fund, according to prosecutors.

Members of the tax-writing House Ways and Means Committee are holding a hearing on a legislative package that would overhaul the taxation of digital assets.

The Senate Banking Committee advanced a landmark digital asset market structure bill after months of negotiations, signaling fresh momentum for the measure.

The American Institute of CPAs asked the Office of the Comptroller of the Currency to leverage its stablecoin reporting criteria when regulating the market.

The Financial Accounting Standards Board met to discuss accounting for transfers of crypto assets and disclosures around digital assets such as stablecoins.

The Bitcoin accumulator adopted accounting standards last year that require changes in the fair value of its holdings to flow through earnings.

The expansion of cryptocurrency, stablecoins and tokenized assets means more complexity at tax time, including a brand-new form to manage: 1099-DA.

A recent report has found that the majority of cryptocurrency holders are aware transactions are taxable and want to comply, but struggle with actually doing so.

CPAs dealing with the new 1099-DA rules this year are challenged by the fact that they only report gross proceeds this year, leaving them and their clients to calculate cost basis themselves.

The IRS issued a notice extending temporary relief for another year on using alternative methods for brokers of digital assets, such as cryptocurrency.

The Securities and Exchange Commission and the Commodity Futures Trading Commission issued an interpretation of how federal securities laws apply to crypto.