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Companies must now account for cryptocurrency assets using fair value, according to a decision made by the Financial Accounting Standards Board (FASB).
The demand for guidance on how firms should manage digital assets for accounting purposes continues to grow in tandem with the use and acceptance of crypto assets.
To improve tax compliance, the U.S. Treasury Department proposed four changes to "modernize" the corporate and individual reporting of digital assets.
Senators Kirsten Gillibrand and Cynthia Lummis proposed the Responsible Financial Innovation Act to create a comprehensive regulatory framework for digital assets.
As Cybersecurity Threats Loom, Interested Parties Weigh in on Proposed SEC Cybersecurity Regulations
As the SEC considers regulations to strengthen cybersecurity in public companies, concerns about cyberattacks are on the rise. Learn more.
Executive ResourceAs 2021 comes to an end, many organizations are winding down another hectic year, and planning for 2022 with much more optimism.
The growing popularity of virtual currencies and their potential to facilitate tax evasion has prompted the Internal Revenue Service (IRS) and Congress to impose additional reporting requirements on taxpayers who hold or use virtual currencies.
With cryptocurrencies becoming more mainstream, Weaver is consistently asked to decrypt what crypto means for individuals and businesses that want to learn more.
When cryptocurrencies first came on the scene, they were widely viewed as a fringe development, but in recent years they’ve moved closer to the mainstream.