The American Institute of CPAs has updated its practice aid on digital assets with a new chapter on auditing cryptocurrency lending and borrowing transactions.

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The U.S. Department of the Treasury issued a request for comment, required by the Guiding and Establishing National Innovation for US Stablecoins Act.

Under the new law, issuers with more than $50 billion in stablecoins outstanding would be required to submit audited annual financial statements.

The IRS's Criminal Investigation division needs to do a better job of keeping track of the billions of dollars in cryptocurrency, says TIGTA.

The U.S. Supreme Court refused to question an IRS summons that forced Coinbase to turn over transaction information for over 14,000 cryptocurrency customers.

The Treasury Department and the IRS are giving brokers additional time to comply with requirements to withhold taxes on digital asset sales.

Asset tokenization, the creation of digital ownership representations for diverse assets on blockchain and DLT platforms, is a transformative force in finance.

The American Institute of CPAs is volunteering to provide its assistance in light of its own efforts in the digital assets space.

The Financial Accounting Standards Board published a rule in 2023 requiring companies that hold crypto to report their tokens at fair value.