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.

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There's no sugarcoating the stock market's 20% plunge, but there is a small consolation prize: one of the best opportunities in years to lower tax bills.

The Bank of International Settlements announced the successful conclusion of a test between four central banks to transfer central bank digital coins between themselves.

The software developer announced the release of its new Cost Basis Interchange solution for digital asset reporting and compliance.

A pair of hackers in their early 20s have been sentenced for two years in prison for stealing cryptocurrency via "SIM swapping" and other techniques.

The IRS has given cryptocurrency holders a bit more clarity about how to report digital assets on their 1040 income tax forms.

More and more, these assets are becoming embedded in the world's financial systems.

The credit card provider announced the launch of its new Crypto Source service, which will allow financial institution partners to offer crypto trading to customers.

The board has decided to require companies to measure cryptocurrency assets at fair value.

Board staff believe the approach better aligns measurement of crypto assets with that of other assets used for investment purposes.