Members of the tax-writing House Ways and Means Committee are holding a hearing on a legislative package that would overhaul the taxation of digital assets.

The Senate Banking Committee advanced a landmark digital asset market structure bill after months of negotiations, signaling fresh momentum for the measure.

The American Institute of CPAs asked the Office of the Comptroller of the Currency to leverage its stablecoin reporting criteria when regulating the market.

The Financial Accounting Standards Board met to discuss accounting for transfers of crypto assets and disclosures around digital assets such as stablecoins.

The Bitcoin accumulator adopted accounting standards last year that require changes in the fair value of its holdings to flow through earnings.

The expansion of cryptocurrency, stablecoins and tokenized assets means more complexity at tax time, including a brand-new form to manage: 1099-DA.

A recent report has found that the majority of cryptocurrency holders are aware transactions are taxable and want to comply, but struggle with actually doing so.

CPAs dealing with the new 1099-DA rules this year are challenged by the fact that they only report gross proceeds this year, leaving them and their clients to calculate cost basis themselves.

The IRS issued a notice extending temporary relief for another year on using alternative methods for brokers of digital assets, such as cryptocurrency.

The Securities and Exchange Commission and the Commodity Futures Trading Commission issued an interpretation of how federal securities laws apply to crypto.

Proposed regulations aim to making it simpler for digital asset and crypto brokers to provide the Form 1099-A electronically, instead of sending paper copies.

After saying for years that major accounting firms were unwilling to provide auditing services, Tether Holdings SA received a sign-off from Deloitte on the first-ever reserve report for its USAT stablecoin that was launched to comply with new U.S. regulations.

Lawmakers in Congress have their eyes on several pieces of tax-related legislation that may or may not get passed this year, though the upcoming November midterm election is bound to affect any possibility of the bills advancing.

New reporting rules around stablecoins are coming thick and fast; in this episode, two experts from the AICPA discuss the new rules and what they mean for accountants and clients.

The IRS can broaden the audit, and, in the wrong fact pattern, frame the issue as deliberate concealment rather than poor recordkeeping.

The Joint Chiefs of Global Tax Enforcement issued a pair of advisories on how OTC crypto trading desks and payment processors can hide criminal activity.

Alt5 replaced its auditor last month less than three weeks after hiring it, bringing on L J Soldinger Associates as its third audit firm in under two months.

The American Institute of CPAs updated the criteria for stablecoin reporting amid heightened focus on stablecoin oversight.

Strategy adopted an accounting change that requires valuing the firm's crypto holdings at market prices, which is why it's expected to book such a big hit.

Simply having a finance team with a traditional accounting skill set will not suffice in this new phase of the digital economy.