News, standards updates and audit guidance for crypto-accounting teams, covering reporting, compliance and regulatory developments.
A five-stage blockchain risk maturity framework helps financial institutions benchmark AML/CFT readiness and build toward strategic digital asset capability
State-federal jurisdictional clash over prediction market sports betting creates licensing and compliance risk for firms servicing event-contract platforms
The CLARITY Act faces a narrow July window in the Senate, with unresolved DeFi provisions, ethics concerns, and a presidential veto threat creating real planning uncertainty for firms with US crypto exposure.
DOJ guilty plea in the Goliath Ventures $400M crypto Ponzi highlights fraud-indicator recognition, investor-loss accounting, and bank AML exposure for practitioners advising affected clients or reviewing similar structures
State vs federal jurisdiction clash over prediction markets licensing creates compliance uncertainty for firms offering or auditing event-contract platforms
Galaxy Digital's downgrade of CLARITY Act passage odds to 50% signals real legislative risk for US digital asset market structure, with Senate floor time the critical bottleneck
The SEC's 60-day public comment period on novel ETF structures signals potential registration and compliance rule changes that accounting firms and fund auditors must monitor closely.
OFAC adds 130+ ISIS-linked Tron wallets to the SDN list, raising immediate screening and due-diligence obligations for crypto businesses and their advisers.
IRS OPR AI guidance exposes a gap between existing compliance credentials and what §7216 actually requires when practitioners send client tax data to external AI tools
Third Circuit's Murrin decision binds Tax Court practitioners in DE/NJ/PA: a preparer's fraud alone triggers Section 6501(c)(1)'s unlimited assessment window, exposing innocent clients to decades of back-tax and interest liability
FASB proposes to require investment companies to factor contractual sale restrictions into equity fair value measurements under ASC 820, with mandatory discount disclosure
The IRS merges the Office of Professional Responsibility and the Return Preparer Office into the new Tax Professional Management Office, effective June 28, over AICPA objections about conflicts of interest and credential confusion.
IMF flags tokenization as a systemic inflection point: fragmented standards could create new financial stability risks while coordinated regulation could unlock settlement efficiency gains
State-level crypto ATM bans accelerate across the US and Canada signals a federal crackdown, raising VASP licensing, AML, and operator liability questions for accounting and compliance teams
Vertical integration in prediction markets is accelerating M&A interest while simultaneously raising CFTC jurisdiction, antitrust, and state-gambling-law conflicts that compliance teams need to track.
Huione Group has become the largest illicit online marketplace ever recorded, with its own unregulated stablecoin USDH designed to evade asset freezes. Accounting firms and compliance teams need to understand the transaction volumes, the USDH exposure risk, and the AML obligations this creates.
OFAC's SDN list now includes identified on-chain addresses, raising the compliance bar for every firm that touches crypto assets
TIGTA finds IRS cannot centrally track all 1,124+ federal tax information data-sharing agreements, raising governance and FTI protection concerns for tax practitioners and compliance teams
IRS disputes CP53E errors exist while AICPA collects practitioner examples of erroneous notices sent to taxpayers who owed nothing
Section 530A Trump accounts create an 18-year recurring advisory revenue stream that most accountants are overlooking
Chainalysis formalises a two-tier evidentiary ontology for blockchain analytics, giving compliance teams, auditors, and courts a shared vocabulary for data quality accountability
ESMA's role in the 2025 CCP Global CIDS fire drill and what the published report means for clearing members, auditors, and compliance leads
PEEC proposes to anchor the public interest entity definition to live FDIC and NAIC regulatory thresholds, replacing fixed-dollar figures and reducing future standard-setting lag
FinCEN formally launches a whistleblower tip portal covering BSA, sanctions, and money laundering violations, with financial awards for actionable submissions that lead to enforcement.
