The American Institute of CPAs published information on reporting on stablecoins, a type of cryptocurrency, providing a framework to stablecoin issuers for presenting and disclosing information related to the tokens they issue, and to report on the availability of cash or other assets that back them.
Stablecoins are a kind of digital asset where the value is pegged to the assets backing them, such as U.S. currency, exchange-traded commodities like precious or industrial metals, or some other form of crypto.
The purpose of the AICPA's Assurance Services Executive Committee document,
The release comes as the Trump administration is taking a decidedly more welcoming attitude to the crypto industry, including announcing a crypto reserve and setting up a crypto task force at the previously skeptical Securities and Exchange Commission.
Next month, as a second part of the stablecoin reporting criteria, the Assurance Services Executive Committee plans to release Proposed Criteria for Controls Supporting Token Operations: Specific to Asset-Backed Fiat-Pegged Tokens for public comment. As these control criteria are part of overall stablecoin reporting, they eventually will be incorporated into the 2025 Criteria for Stablecoin Reporting document once they're finalized.
"This is the first available framework for stablecoin issuers to report on stablecoins, and the AICPA is excited to be at the forefront of bringing transparency and consistency to the digital assets space," said Ami Beers, senior director, assurance and advisory innovation at the AICPA & CIMA, in a statement Thursday. "These criteria will serve as the basis for evaluating the availability of redemption assets that back stablecoins in attestation services that practitioners provide to their clients, driving this dynamic practice area forward for the accounting profession."
The 2025 Criteria for Stablecoin Reporting: Specific to Asset-Backed Fiat-Pegged Tokens can be found
