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Cryptoasset Accounting and Taxation Trends For the Profession
- Analyze current accounting and reporting requirements for cryptoassets, including fair value treatment, classification challenges, and financial statement impact under evolving FASB guidance.
- Evaluate key tax considerations, including IRS reporting expectations, transaction tracking, and implications of staking, DeFi, and stablecoin activity on compliance and planning.
- Identify audit, risk, and advisory opportunities, including internal controls, verification challenges, and how CPAs can transition from compliance-focused roles to strategic advisors in the digital asset space.
Overview of the webinar
Cryptoassets have moved from the periphery of finance to a core area of focus for accounting, reporting, and taxation. As regulatory frameworks continue to evolve, CPAs are increasingly expected to provide informed guidance on the treatment of digital assets across a variety of client scenarios. This course, taught by Sean Stein Smith, delivers a practical and timely examination of cryptoasset accounting and taxation trends shaping the profession.
Participants will explore the implications of recent standards, including fair value accounting under current FASB guidance, as well as ongoing IRS developments impacting reporting, compliance, and enforcement. The course moves beyond theory to address real-world application, including classification challenges, valuation considerations, and the design of internal controls for entities transacting in cryptoassets.
In addition, the session highlights emerging areas such as staking, decentralized finance, and stablecoins, with a focus on how these innovations introduce new accounting questions and tax complexities. Attendees will also gain insight into audit and assurance considerations, including risk assessment and documentation in an environment where traditional verification methods may not apply.
The objective of this course is straightforward: equip CPAs with the knowledge and judgment needed to navigate a rapidly changing landscape. By the end of the session, participants will be better positioned to advise clients, support compliance efforts, and identify opportunities to expand their role as strategic advisors in the digital asset ecosystem.
Who should attend?
- CPAs of different levels in Public and Private Practice
Why should you attend?
CPAs cannot afford to treat cryptoassets as a niche topic. Regulatory clarity, including evolving IRS guidance and FASB fair value rules, is already reshaping reporting, tax treatment, and assurance expectations. This session, taught by Sean Stein Smith, provides a practical, structured overview of cryptoasset accounting and taxation trends that directly impact client advisory and compliance. Attendees will gain actionable insight into classification, valuation, internal controls, and emerging risks tied to digital assets. More importantly, the session equips CPAs to move from reactive compliance to proactive advisory, positioning themselves as informed professionals in a rapidly changing financial and regulatory environment.
Faculty - Dr.Sean Stein Smith
Sean is an Associate Professor at the City University of New York – Lehman College. He serves on the Advisory Board of the Wall Street Blockchain Alliance, where he chairs the Accounting Working Group. Sean also serves as an Advisor to Crescent City Capital, a cryptoasset investment fund, and is also an Advisor to Hyperion, a crypto accounting startup. Sean is an award-winning researcher who has been recognized in both the United States and European Union for his contributions to the accounting field. He is a Certified Cryptocurrency Auditor, and has completed an Executive Education program in Artificial Intelligence at MIT. Sean is currently enrolled at the United States Artificial Intelligence Institute in the Certified Artificial Intelligence Scientist program.
Sean has developed and presented courses on Artificial Intelligence, Cryptoassets, and Blockchain for both the AICPA and IMA. He has also delivered presentations and training sessions for the PCAOB, the FDIC, the AICPA, multiple state accounting societies, and guest lectures at nearly 20 colleges and universities. He is the past chairperson of the NJCPA's Emerging Technologies Interest Group (#NJCPATech), is a Past President of the NYSSCPA Manhattan-Bronx Chapter, and is a member of the NJCPA Board of Trustees. Sean also serves on the Board of Governors of Fairleigh Dickinson University.
Sean is a widely recognized expert in the areas of blockchain, cryptoassets, and artificial intelligence, especially as they connect to accounting and financial services. His thought leadership is sought after by academic and industry organizations, and includes his efforts to develop and teach the first ever courses focusing on blockchain and crypto at Lehman College beginning in 2021. Sean has developed multiple courses, a certificate program, and an undergraduate minor focusing on blockchain and cryptoassets at Lehman College.
His award-winning research has been recognized and honored both in the United States and internationally, and he is a frequent guest on media outlets discussing blockchain, cryptoassets, AI, and accounting technologies. Sean has published multiple books, and dozens of academic and practitioner articles connected to these topics including books with Springer, Emerald, and Routledge publishing houses.
Sean has also been named one of the Top 100 Most Influential People in Accounting (2019 & 2023), and has been named a past winner of the NJCPA Ovation Award for Innovation. He has also been named a 40 under 40 in the accounting profession from 2017-2023 by CPA Practice Advisor and the NYSSCPA in 2021. Sean was named on the NJBIZ Power 50 in Accounting in 2021 & 2022. He was also awarded the Outstanding Young CPA of the Year Award by the AICPA in 2022. Sean was also included on the ROI-NJ Accounting Influencer list in 2024.
Prior to his pivot to academia and research Sean was employed as a CPA and held roles of progressive responsibility at multiple organizations in the for-profit and non-profit sectors. He earned his B.S., M.S., and M.B.A. from Fairleigh Dickinson University, and a DBA from Capella University. In 2022, Sean also earned the Certified Cryptocurrency Auditor certificate offered by the Blockchain Council, and in 2023 completed an Executive program in AI Strategy at MIT.