U.S. Accounting and Tax Guidance for Digital Assets

IRS Issues Safe Harbor for Certain Trusts Staking Digital Assets, November 10, 2025

FASB Opens Project on Classification of Stablecoins as Cash Equivalents, October 29, 2025

SEC Staff Accounting Bulletin No. 122: Rescinding SAB 121 (Accounting for Obligations to Safeguard Crypto-Assets an Entity Holds for its Platform Users), January 23, 2025

U.S. Department of the Treasury Releases Final Regulations Implementing Bipartisan Tax Reporting Requirements for Brokers of Digital Assets, December 27, 2024

Treasury Department, IRS Release Final Regulations Implementing Tax Reporting Requirements for Digital Assets, June 28, 2024

AICPA Updates Practice Aid for Digital Assets, June 6, 2024

Treasury and IRS announce that businesses do not have to report certain transactions involving digital assets until regulations are issued, January 16, 2024

Treasury Inspector General for Tax Releases IRS Digital Asset Strategy Report, December 18, 2023

FASB Issues Standard to Improve the Accounting for and Disclosure of Certain Crypto Assets, December 13, 2023

IRS and Treasury: Request for Comment on Proposed Regulations on Sales and Exchanges of Digital Assets by Brokers, August 25, 2023

FASB: Proposed Accounting Standards Update, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets, March 23, 2023

IRS: Chief Counsel Memorandum re: Applicability of Section 1031 to Exchanges of Bitcoin (BTC) for Ether (ETH), Bitcoin for Litecoin (LTC), and Ether for Litecoin, June 08, 2021

IRS: Chief Counsel Memorandum re: Digital Assets - Change of Consensus Mechanism, March 27, 2023

IRS: Notice 2023-34 IRS Virtual Currency Guidance Modifying Notice 2014-21

IRS: Notice 2023-27 - Treatment of certain nonfungible tokens as collectibles

FASB: Accounting for and Disclosure of Crypto Assets Tentative Board Decisions to Date, October 12, 2022

FASB: Tentative Board Decisions for FASB Board Meeting, Accounting for and Disclosure of Crypto Assets, October 12, 2022

KPMG: Accounting for nonfungible tokens (NFTs), October 2022

FASB: 2022 Q3 Supplemental GAAP Taxonomy Featuring Improvements for Business Development Companies and Crypto-Assets, September 30, 2022

FASB and IASB: Staff Paper with Project Update on Accounting for and Disclosure of Crypto Assets, September 30, 2022

FASB: Tentative Board Decisions for FASB Board Meeting, Accounting for and Disclosure of Crypto Assets, August 31, 2022

EY: Technical Line – Accounting for digital assets, including crypto assets, June 30, 2022

ISDA: Accounting for Digital Assets: Key Considerations, May 2022

SEC: Staff Accounting Bulletin No. 121, Accounting for obligations to safeguard crypto-assets an entity holds for platform users, April 11, 2022

KPMG: Accounting for crypto assets by investment companies, April 2022

KPMG: Executive summary: Accounting for crypto assets, March 2022

Sidley Update: Application of Pre-Tax Cuts and Jobs Act Section 1031 of the Internal Revenue Code to Exchanges of Certain Cryptocurrencies, July 8, 2021 

Sidley Webinar: Digital Services Taxes: At the Intersection of Trade, Tax, and Technology, June 9, 2021 

Sidley Update: IRS Takes on “Hard Fork” and “Airdrop” as Part of New Guidance on Virtual Currency, October 16, 2019

IRS: Frequently Asked Questions on Virtual Currency, October 9, 2019

IRS: Revenue Ruling 2019-24 – Tax Implications of Hard Fork, October 9, 2019

IRS: Notice 2014-21 – IRS Virtual Currency Guidance, April 14, 2014

AICPA: Blockchain and Digital Assets