News, standards updates and audit guidance for crypto-accounting teams, covering reporting, compliance and regulatory developments.
The FBI's action against Huione Group, the largest illicit crypto marketplace ever recorded, signals a new baseline for AML due diligence and stablecoin transaction screening at regulated firms.
The IRS has issued new guidance on AI risks under Circular 230, increasing compliance duties for tax practitioners. Crypto accounting software can help firms manage these obligations.
The IRS filing season disparity between online and other filers highlights the need for robust crypto accounting software to ensure accurate reporting and reduce audit risk for accounting firms.
The Coinex sanctions allegations highlight the critical need for robust crypto accounting for accountants to ensure compliance with international sanctions.
The Supreme Court ruling on IRS time limits for preparer fraud increases compliance risk for crypto accounting firms, making robust crypto accounting software essential for audit trails and accuracy.
OFAC sanctions highlight the need for crypto accounting software with built-in sanctions screening and compliance reporting for accounting firms servicing crypto clients.
OFAC sanctions on crypto addresses create compliance obligations that crypto accounting software can address through screening and reporting.
Poor IRS phone service highlights the need for accurate crypto accounting software to minimize taxpayer errors and inquiries.
IRS staffing changes may increase audit scrutiny on crypto, making robust crypto accounting software essential for compliance.
The IRS merger of tax practitioner offices signals increased scrutiny, making crypto accounting software essential for compliance.
IRS hiring events after staff cuts signal increased enforcement, making crypto accounting software essential for firms to manage client compliance.
CPA firms can improve profitability by integrating crypto CPA services as a new advisory revenue stream.
SEC's fireside chat signals a shift towards rebuilding trust and improving usability in crypto regulation, impacting how firms use crypto accounting software for compliance.
The CFTC investigation into Polymarket underscores the need for robust crypto accounting software to ensure accurate trade reporting and compliance.
The Meta IRS dispute underscores the importance of accurate crypto accounting software for tax compliance and audit readiness.
The CFTC investigation into Polymarket underscores the need for robust crypto accounting software to ensure compliance and audit readiness.
The court case highlights the importance of accurate tax classification for investment firms, which can be supported by crypto accounting software.
The surge in IRS fast track dispute settlement program usage underscores the need for crypto accounting software to maintain accurate records and reduce audit risks.
The Coinex Iran case highlights the need for robust crypto accounting software to detect and report sanctions violations.
