Judge Clears IRS to Seek Bank’s Crypto Customer Records
A New York City bank must produce records on U.S. customers of a digital asset trading platform who may owe …
Private Companies Don’t Want to be Struck Out of Crypto Accounting Rules Being Developed
Private Company Council (PCC) Chair Candace Wright on Sept. 22, 2022, said new accounting rules the FASB is developing for …
Biden Team Unveils Blueprint for Regulating Digital Assets
In its quest to regulate transactions involving digital assets and bolster federal oversight, the Biden administration has laid the foundation …
SEC Enforcement Director Cites ‘More Intentional’ Shift in Articulating Crypto Analysis
SEC Enforcement Director Gurbir Grewal on Sept. 9, 2022, said the commission is being “much more intentional in our public …
New FASB Crypto Accounting Rules Will Tackle Certain Fungible Tokens Deemed ‘Intangible Assets’
A new cryptocurrency accounting and disclosure standard will be scoped narrowly to address a subset of fungible “intangible assets” that …
House Democrat Presses SEC Chair Gensler, Others on Crypto Fraud
Rep. Raja Krishnamoorthi in a flurry of Aug. 30, 2022, letters questioned the SEC, other financial regulators, and digital asset …
Bipartisan Senate Bill to Regulate Cryptocurrencies Has Tax Implications
Legislation sponsored by a bipartisan pair of U.S. senators, the Responsible Financial Innovation Act (S. 4356), would set new tax rules …
Fix Tax Return’s ‘Virtual Currency’ Definition, Accountants Urge IRS
Instructions in a recent draft update to Form 1040 are inconsistent with how IRS guidance defines “virtual currency” and should …
Interview With EY’s Jeffrey Saviano
Jeffrey Saviano, global tax innovation leader at Ernst & Young and host of its Better Innovation podcast, spoke with Checkpoint …
How Long Will it Take to Develop Crypto Accounting Rules? FASB Isn’t the Problem
Speculation has bubbled up about how fast the FASB, the nation’s main accounting rulemaker, can move to issue new accounting …