The accounting firm Mazars Group halted work for Binance and other crypto firms on reports that are meant to demonstrate that the companies hold the necessary reserves.

Gary Harmon was charged after 713 digital tokens, then worth almost $5 million, disappeared from a hardware wallet in an IRS evidence locker as authorities watched helplessly.

Mazars Group has halted all work for crypto clients, dealing a blow to an industry seeking to shore up confidence in the wake of FTX's collapse.

A bipartisan group of senators introduced a bill that would greatly expand regulation and oversight of cryptocurrencies in order to crack down on their use in money laundering.

A proof of reserves report, based on a snapshot review by Mazars, showed the exchange having sufficient crypto assets to balance its total platform liabilities, but acknowledged limitations.

Andreas Barckow explained in a recent speech why the board does not have a cryptocurrency standard project at the moment.

Changing the dates; forms and functions; under development; and other highlights from our favorite tax bloggers.

Traders move to take custody of their tokens despite a proof of reserves audit amid revelations that rival FTX may have misused customer funds.

The arrest followed weeks of speculation about the possible misuse of client funds.

Unlike stocks, digital currencies aren't hit by the wash-sale rule — a major opportunity to turn lemons into lemonade.

The European Union proposed new rules to combat tax fraud and evasion in the crypto sector by requiring all digital asset service providers to report transactions involving customers residing in the bloc.

The Institute of Internal Auditors sent a letter to lawmakers urging them to set new requirements for crypto exchanges in the U.S.

In the wake of the meltdown of FTX, the digital-asset exchange wants to reassure investors and stakeholders.

The GAO recommended that the Treasury Department's Financial Crimes Enforcement Network and the IRS should review registration requirements for the machines.

Prager Metis CPAs LLC, an auditor for FTX, was sued by an investor, who also sued Armanino LLP, an auditor for FTX US, FTX's co-founder Sam Bankman-Fried and others.

Roughly 2.3 million U.S. taxpayers told the Internal Revenue Service they traded cryptocurrencies in 2020, data from the agency show.

Sam Bankman-Fried's failed FTX empire filed for bankruptcy on Nov. 11, potentially creating more than a million creditors and convulsing crypto.

When market investors suffer losses — or get taken for a ride — they're often eligible for a tax write-off to soften the blow. Users of the bankrupt crypto exchange FTX won't be so lucky.

"Everyone thinks accounting and auditing is boring — until something like this happens," said Global Digital Asset & Cryptocurrency Association CEO Gabriella Kusz.

If history is a guide, the uptrend in corporate failures to be expected from rising costs of capital is likely to be accompanied by an increasing incidence of fraud.