The Treasury Department released its first ever illicit finance risk assessment on the vast ecosystem of decentralized finance, or DeFi, which the report said was rife with criminal activity.

Officials at Dubai's Virtual Assets Regulatory Authority have in recent weeks asked Binance to provide more information on its ownership structure, governance and auditing procedures.

The closure of crypto-friendly Silvergate Capital and seizure of Signature Bank have left crypto firms struggling to find new banks for depository and payment services.

The service issued preliminary guidance and intends to issue more detailed guidance soon on the tax treatment of nonfungible tokens.

Plus, Taxaroo touts AI tax advice solution as ChatGPT for Taxes; Paystand rolls out new AR and AP tools; and NetSuite saunches NetSuite MyLearn.

The board warned investors to exercise caution when it comes to the so-called "proof of reserve" reports that some cryptocurrency companies have been touting.

Crypto seems a bit cryptic to many accountants, but it doesn't have to be.

Plus, Ledgible releases report on crypto accounting challenges; AICPA propose FAQ for IRS on crypto; and other news from the accounting technology arena.

The Superior Court rejected a motion by Michael Saylor to dismiss a lawsuit that he failed to pay income taxes despite living in the district for more than a decade.

A bipartisan group of senators is demanding a detailed accounting of the crypto exchange's finances and efforts to maintain regulatory compliance.