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 …
Federal Court OKs John Doe Summons in Cryptocurrency Probe
The U.S. District Court for the Central District of California on August 15 authorized the IRS to serve a John …
House Democrat Says SEC has Big Role in Regulating Crypto
A major bipartisan crypto bill will likely not be taken up by the Senate this year, and critics of the …
Will FASB’s Incomplete Conceptual Framework Derail its Efforts on Crypto, Other New Projects?
Critical decisions the FASB makes that can ultimately move markets start with the Conceptual Framework, a set of theoretical guidelines …
GOP Senators Demand SEC Withdraw Guidance on Crypto Platform Accounting
A group of Republican senators on June 15, 2022, asked the SEC to withdraw its late March staff accounting bulletin …
Crypto, Banking Reps Critical of OECD Proposals
New requirements under the Organization for Economic Co-operation and Development’s proposed amendments to its reporting regime and new crypto framework …
The Long Read: Catching Up With Crypto
Mainstream interest in receiving and trading cryptocurrencies has proliferated among individuals and corporations. This article reviews what we know regarding …
Sen. Toomey Releases Draft Stablecoin Framework
Sen. Pat Toomey on April 6, 2022, rolled out draft legislation setting out a three-path regulatory framework for stablecoins. Toomey, …