2024 has been a dramatic one for cryptoassets, and as the year continues, accounting professionals will need to be able to keep clients informed.

The Treasury and the Internal Revenue Service issued final regulations on reporting by brokers on dispositions of digital assets such as cryptocurrency for customers in certain sale or exchange transactions.

The Federal Accounting Standards Advisory Board says that, for federal government accounting purposes, seized digital assets aren't monetary unless they come from a central bank.

Nigeria's tax agency dropped accusations of tax fraud against Tigran Gambaryan, but a separate money-laundering case brought against the former IRS employee resumed.

Patrick Camuso's firm, Camuso CPA, specializes in digital asset investors and Web3 companies.

The unpredictable nature of digital assets stands out as both a defining characteristic and a significant challenge for investors and accounting professionals alike.

Plus, Vertex consolidates Accelerator and Chain Flow Accelerator into single solution; and other accounting tech news.

The practice aid provides information on auditing the valuation of cryptoassets and audit procedures surrounding their existence, rights and obligations.

Tigran Gambaryan is accused alongside the company of charges including nonpayment of value-added tax and corporate income tax, and complicity in aiding customers to evade taxes through its platform.

The White House has vetoed a bill that would have repealed a measure requiring custodians of crypto assets to count them as liabilities on their balance sheets.