The House passed a bill that would repeal the SEC's SAB 121, which requires custodians to list digital currency as a liability on their balance sheets. However the president said he'd veto the bill.

Plus, Estateably touts new accounting tools for estate planning; and other accounting tech news and updates.

Roger Ver, an early crypto investor who was sometimes referred to as Bitcoin Jesus, has been charged with mail fraud, tax evasion and filing false returns.

The Internal Revenue Service previewed a draft form for crypto brokers for reporting on the proceeds of digital asset transactions to their customers.

The revenue service accused Binance of nonpayment of VAT and company income tax, failure to file returns, and complicity in aiding customers to evade taxes.

Experts believe this guidance will spur more institutions to embrace digital assets, as the rules for proper accounting are more clear-cut.

The tax authority is drafting final regulations that would require crypto brokers, including exchanges, to report detailed information on their clients' transactions.

Data shows that people lost at least $1.56 billion in 2023 from cryptocurrency-related fraud schemes.

The existing guidance directs public companies, including banks, to count crypto they custody as liabilities on their corporate balance sheets.

New technology systems and the addition of cryptocurrency on tax forms are just some of the IRS developments to watch in 2024.