The Institute of Internal Auditors recommended all cryptocurrency exchanges operating in the U.S. should possess an independent internal audit function.

Instead of hiding gains, traders avoid tax by declaring losses using "wash trades" that are barred in regulated securities markets.

Dumping bad clients; another crypto challenge; no IRS notice; and other highlights from our favorite tax bloggers. 

The case revolves around whether the service had the right to demand an investor's account info without letting him know.

Crypto can be subject to major price volatility that is inconsistent with cash or a cash-equivalent treatment.

An Ohio man photographed lounging in a bathtub full of dollar bills stole 713 Bitcoin from a computer device seized by the IRS in a case against his older brother.

The statute's start; chat's all, folks; costs of fraud; and other highlights from our favorite tax bloggers.

The service has slightly revised its 2014 guidance on the treatment of virtual currency to reflect the fact that some countries now accept Bitcoin as legal tender.

The institute is asking for more guidance on how to help taxpayers compute their losses on digital assets such as cryptocurrency.

Inspectors with the board listed their top priorities for inspections this year in a new staff report.

Hard data about charitable donations denominated in cryptocurrency is difficult to obtain.

In this week's Vendor Spotlight, we discuss cryptocurrency accounting with Kell Canty, CEO and co-founder of crypto tax and accounting platform Ledgible.

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.