Cryptocurrency regulation is entering a new phase. As the global landscape tightens, PwC’s Global Crypto Regulation Report 2025 highlights a wave of new mandates across 42 jurisdictions, ushering in stricter accounting, custody, and compliance standards. With the digital asset ecosystem evolving quickly, accountants must proactively align with these emerging rules to stay ahead.
In the following article, we analyse the report’s key mandates and unpack the compliance challenges for firms holding or advising on crypto assets. You’ll learn what to watch for and how to help clients stay audit-ready and compliant in 2025.
Crypto Regulation: Four Things to Watch in 2025
As digital assets transition from the fringe to the financial mainstream, 2025 is poised to be a pivotal regulatory turning point. Drawing from PwC’s analysis, we explore four emerging focus areas that will shape crypto-accounting practices worldwide.
1. Fair-Value Accounting Becomes Mandatory
PwC reports growing consensus toward applying IFRS 13 principles to crypto valuation. Instead of categorising crypto as intangible assets or inventory, jurisdictions are mandating fair-value measurement using active market inputs where possible.
This shift aligns crypto with mainstream financial instruments, but it also introduces volatility directly into income statements. Accountants will need clear documentation for inputs, valuation hierarchy placement, and periodic mark-to-market policies to ensure audit readiness.
2. Capital Reserves Required for Exchanges
Several jurisdictions, including the EU and Hong Kong, are introducing minimum capital requirements for crypto exchanges and custodians. The aim is to prevent collapses similar to FTX by ensuring platforms maintain adequate liquidity and can meet sudden withdrawal demands.
Accountants should support clients by modelling stress scenarios, advising on solvency metrics, and reviewing liquidity risk frameworks. Transparent disclosures and capital adequacy statements will become essential components of annual reporting for these businesses.
3. KYC and Transaction Oversight Tighten
The report notes a sharp rise in KYC stringency for token issuers and custodians. For example, Singapore now requires identification at the wallet level, and Germany has adopted granular transaction reporting thresholds.
Accountants must assess whether clients have effective customer due diligence systems in place. This includes tracking beneficial ownership, reconciling transaction records, and supporting audit processes to meet new anti-money laundering expectations.
4. Regulatory Alignment Is Still Evolving
While frameworks such as MiCA in the EU and the SEC’s token classification efforts in the US aim to clarify crypto’s status, PwC warns that cross-border inconsistencies persist.
This creates complexity for accountants managing international crypto portfolios. A token might be classified as a commodity in one jurisdiction and a security in another. Navigating these discrepancies requires maintaining parallel documentation and multi-jurisdictional reporting frameworks.
Working With INAA’s Members on Crypto Compliance
As regulations become more prescriptive, firms can’t afford to treat crypto accounting as a side topic. INAA’s members combine regional knowledge with international best practices to help businesses stay compliant and competitive.
Whether advising on fair-value disclosure, evaluating exchange solvency, or interpreting KYC mandates, INAA professionals can offer the clarity and expertise required in a fast-changing space.
To mitigate these risks, accountants must reassess the timing and criteria used to recognise cross-border sales, ensuring that customs compliance is aligned with tax accounting standards. Strengthening these controls is critical to sustaining accuracy in multi-jurisdictional reporting.
To stay ahead of crypto regulation in 2025, get in touch with INAA’s advisors today!