Stay informed with the latest insights and perspectives from Withum.
Illinois’ newly enacted state budget includes the Digital Asset Tax Act (DATA), a transactional tax regime aimed at certain digital asset activities. DATA is scheduled to take effect January 1, 2027, and would impose a 0.2% tax that covered service providers must collect, separately state, report, and remit to the Illinois Department of Revenue. The…
Tokenized stocks are getting closer to becoming a reality in the U.S., and us accountants will soon have to review and audit them. These digital versions of stocks don’t always act like the regular shares we’re used to. As Nasdaq and the NYSE work on blockchain‑based versions of stocks, accountants need to prepare for assets…
Cryptonomix is your one-stop shop for all things happening in the crypto community.
As crypto markets evolve, fund managers are increasingly engaging in complex financial instruments such as tokenized repos, lending, and other strategies. While these instruments offer liquidity and leverage, they also raise tax characterization issues under U.S. federal income tax law. Repos are generally perceived as secured loans, but the IRS may treat them as sales…
The Crypto-Asset Reporting Framework (CARF) is the most significant international initiative for tax transparency on digital assets to date. Developed by the OECD and endorsed by the G20, CARF sets a global standard for the automatic exchange of tax information on crypto-asset transactions between countries. As of December 2025, more than 75 jurisdictions have committed…
Finance leaders deal with pressure from all directions. IRS rules keep changing, new reporting requirements appear, and investors are demanding more detailed reporting. Each year, crypto businesses are expected to meet the same standards as traditional companies. To meet these expectations, it’s essential to understand what best practices look like at every stage of growth….
