- CPAs are advised to update their knowledge of cryptoassets due to recent regulatory progress and increased adoption.
- New federal and state rules, spot crypto ETFs, and policy changes around 401(k) plans signal positive shifts in the crypto sector.
- Tax laws related to cryptoassets, including IRS code updates, remain complex and unchanged, making compliance an ongoing challenge for businesses and individuals.
- Strong internal controls are required when firms integrate cryptoassets, as cyber breaches remain a risk despite blockchain security.
- CPAs must guide clients by balancing optimism about crypto with a clear understanding of tax reporting and internal control needs.
Accountants across the U.S. are facing significant shifts in how they should discuss cryptoassets with clients as legal and market trends evolve in 2025. New rules at both federal and state levels, along with the growing adoption of crypto in investment vehicles and retirement plans, require CPAs to reconsider their advice on digital assets. Experts highlight the increasing need for CPAs to provide up-to-date guidance as the sector becomes more mainstream.
Positive momentum includes the rise of Bitcoin-strategic-reserves/”>spot crypto ETFs, changes that make it easier to include crypto in 401(k) plans, and notable events, such as the FTX bankruptcy estate’s comprehensive repayment plan for creditors and the public offering of stablecoin company Circle. Agencies like the OCC and FDIC have also allowed more institutions to participate in crypto activities. However, despite these advances, the tax and accounting framework for crypto use remains largely unchanged.
CPAs need to advise clients to avoid letting a fear of missing out drive investment decisions. The article notes that, although more investors and businesses are joining the crypto market, “past success does not indicate future performance”, highlighting recent price fluctuations. For example, bitcoin dropped as low as $70,000 before rebounding to $100,000 in May 2025.
Tax compliance continues to be a significant issue for those engaged in high-volume trading or businesses that accept crypto. New changes involving IRS sections 6045 and 6050I, like expanding tracking requirements for digital wallets, are expected to complicate accounting procedures from January 2026. Rules for decentralized finance (DeFi) brokers have been postponed until at least 2027. As stated in the article, “taxes are an obstacle to wider utilization of crypto for business purposes” because most transactions still create tax reporting obligations.
Building strong internal controls when handling cryptoassets remains vital. The publication points to the recent data breach at Coinbase, where attackers exploited employee credentials, as evidence that even regulated institutions face risks. Smaller companies looking to use crypto must prioritize internal policies and safeguards, with CPAs playing a key role in designing and improving control frameworks.
Crypto continues to expand into many business areas, and the article concludes that CPAs should be prepared to discuss current tax, policy, and risk management issues with their clients.
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