CPA Demand Surges 12-18% as Crypto Regulations Evolve

As the adoption of cryptocurrencies accelerates, Certified Public Accountants (CPAs) are increasingly being called upon to advise their clients on the intricacies of this rapidly evolving asset class. The regulatory and policy environment surrounding cryptoassets has undergone significant changes, making it imperative for CPAs to stay informed and provide nuanced guidance to their clients.

Over the past 12-18 months, several developments have contributed to a more optimistic outlook for crypto. These include positive momentum on the legislative front at both federal and state levels, the proliferation of spot crypto ETFs, and the relaxation of previous strict language around including crypto in 401(k) plans. Additionally, the comprehensive repayment plans announced by the FTX estate and the successful IPO of major stablecoin issuer Circle have further bolstered confidence in the crypto sector. Despite these advancements, the tax and accounting outlook for crypto has yet to significantly shift, presenting both opportunities and challenges for CPAs.

One of the key considerations for CPAs when discussing crypto with clients is balancing the fear of missing out (FOMO) with realistic expectations. While the nearly continuous flow of positive headlines around cryptoassets and the increased frequency of investor allocations to these assets can create a sense of urgency, it is crucial for CPAs to remind clients that past success does not guarantee future performance. For instance, bitcoin has experienced significant volatility, trading as low as $70,000 in 2025 before rebounding to around $100,000 in May 2025. CPAs must ensure that clients understand the risks and that cryptoassets align with their business models before investing.

Taxes remain a significant issue for wider utilization of crypto for business purposes. Virtually every transaction, transformation, or exchange involving cryptoassets creates a tax reporting and potential tax payment obligation. This is particularly true for individuals engaging in higher volume trading or business activities. Changes related to IRS code sections 6045 and 6050I, including the pivot to a universal wallet tracking methodology, are set to complicate the accounting for crypto transactions and gains. With further changes coming to the marketplace beginning January 2026, and while DeFi broker regulations have been sidelined for now, the tax conversation around crypto is far from over. CPAs, as trusted business and tax advisors, can add significant value to their clients by providing improved tax information related to crypto.

Internal controls are another critical aspect that CPAs must emphasize when advising clients on cryptoassets. The perception that internal controls are less important due to the immutable and unhackable nature of underlying blockchains is misleading. The recent data breach at Coinbase, one of the most highly regulated and well-regarded institutions in the crypto sector, serves as a reminder that internal controls are always important. Smaller institutions or entrepreneurs looking to gain exposure to crypto must establish and improve internal controls around cryptoassets and crypto policies. CPAs are well-versed in assisting clients in the establishment and improvement of controls and control frameworks, making their expertise invaluable in this area.

As crypto continues to make inroads across the economic landscape, CPAs need to be well-prepared to discuss these issues with their clients. By staying informed about the latest developments, balancing FOMO with realistic expectations, addressing tax implications, and emphasizing the importance of internal controls, CPAs can provide comprehensive and valuable guidance to their clients in the rapidly evolving world of cryptoassets.