#crypto-compliance
Stay compliant with cryptocurrency regulations and reporting
California's Digital Financial Assets Law (DFAL) took full effect July 1, 2026, with penalties up to $100,000 per day for unlicensed crypto activity. Who needs a DFPI license, who qualifies for the merchant and $50,000 de minimis exemptions, and what the NMLS application requires.
The CLARITY Act cleared the House 294-134, but as of mid-July 2026 markets give it roughly 43% odds of passing the Senate before the August recess. Here's what the crypto market-structure bill means for businesses holding digital assets — and why FASB's ASU 2023-08 fair-value accounting rules already apply regardless of the vote.
Nonprofits accepting cryptocurrency gifts over $5,000 cannot rely on exchange prices for tax substantiation — IRS Chief Counsel Advice 202302012 requires a qualified appraisal, and ASU 2023-08 now mandates fair-value accounting for any crypto a nonprofit holds past the point of receipt.
Form 1099-DA, the IRS's first dedicated information return for digital asset broker transactions, is being issued for tax year 2025 during the 2026 filing season. A practical guide to the broker definition, the DeFi carve-out, the 2025 gross-proceeds-only phase-in versus 2026 basis reporting, the wallet-by-wallet basis tracking rule, and how to reconcile the form to your own records before filing.
Master cryptocurrency accounting with Beancount.io. Learn to track Bitcoin, Ethereum, DeFi activities, staking rewards, and ensure tax compliance with plain-text accounting. Complete guide for crypto investors and traders.
