CryptoTax

Defining the regulatory landscape for digital assets around the world. Tax expert for crypto, DeFi, tokenized RWAs at KPMG

[CryptoTax @AnthonyTuths]

@paoloardoino Yes!!

[Bo Hines @BoHines]

For years, Tether’s critics said the same thing: “Where’s the audit?”

Now they have their answer.

KPMG U.S. completed a full independent audit of Tether’s 2025 financial statements and issued an unqualified opinion — the largest inaugural financial audit in history.

This is bigger than answering the critics. It’s another milestone in Tether’s evolution from the world’s largest stablecoin issuer into one of the most important financial institutions on the planet.

Transparency. Strength. Execution.

Tether will keep delivering.

[Paolo Ardoino 🤖 @paoloardoino]

No rock was left unturned.
Tether has all the gold it says it has.
Now reviewed by KPMG.

How many financial institutions or governments can actually say that?

"As part of the process, KPMG physically counted and inspected every individual gold bar held by Tether, verifying the existence and identifying information of each bar rather than relying solely on reports from custodians or counterparties."

[CryptoTax @AnthonyTuths]

@paoloardoino Love it Paolo - awesome 🤩

[CryptoTax @AnthonyTuths]

@APompliano @cfosilvia Wow - if only the Big4 had thought about using AI for tax engagements 🙄🙄🙄🙄😉

[CryptoTax @AnthonyTuths]

@iampaulgrewal What’s worse is the cross jurisdictional money grab. The tax hits certain crypto service providers located outside Illinois if they have $100k or more in GROSS receipts from Illinois customers. Very disappointing.

[CryptoTax @AnthonyTuths]

@milesjennings Now if only California FTB would broaden out their Qualified Investment Partnership tax regime to encompass crypto that would be great!!

[CryptoTax @AnthonyTuths]

@EricBalchunas Vaults are interesting. Tradable asset management teams. I could trade with provider X one week and move to team Y the next. Does the curator commingle my funds with others? Is there a prospectus? Or just me hiring an asset management team for my own money?

[CryptoTax @AnthonyTuths]

@teddyfuse Two hands on the putter Teddy - or was this post the 3-putt 😯

[CryptoTax @AnthonyTuths]

@xjehmz Unpopular but true. Bearer securities went out of style decades ago for good reasons

[CryptoTax @AnthonyTuths]

@WatcherGuru Why do we still need transfer agents? And now that you invented 24/7 trading can you please invent off hour liquidity??? 🙄

[CryptoTax @AnthonyTuths]

Sports event contracts are surging in popularity, but their tax treatment is far from clear. Explore how new regulations and classifications could impact investors, hedgers and bettors. Read the latest KPMG insights. #KPMGGaming #Tax #SportsBetting https://t.co/ALvhj7Mvmi

[CryptoTax @AnthonyTuths]

FDIC, OCC, and NCUA roll out proposed frameworks to implement the #GENIUSAct—covering applications, reserves, capital, custody, and supervision for permitted payment #stablecoin issuers. Read more in our latest #KPMG Regulatory Alert. https://t.co/NU2OEXozqJ

[CryptoTax @AnthonyTuths]

So assume Clarity Act passes in the near term. Does the entity paying rewards need to do tax withholding? If the payor is a U.S. entity and the payee is non-US, I can’t see why not. Are you prepared for that?

[CryptoTax @AnthonyTuths]

@coincenter Umm - I would say partly true. Yes one needs to be careful where there are business needs for trading (spending). That’s why some of the tax legato e proposals have a business needs hedging exception (albeit too narrow). But risk of tax arb remains.

[CryptoTax @AnthonyTuths]

@CRYPTO101Pod @KPMG Awesome!! Thanks for having me.

[CryptoTax @AnthonyTuths]

@ChainLinkGod Old school TradFi lessons. Don’t accept collateral as collateral. One default causes a chain reaction. 😉

[CryptoTax @AnthonyTuths]

@sashahodler @TheBitcoinConf What is the plan in U.S. and Eu for reporting and taxing DeFi transactions? That would be a good one

[CryptoTax @AnthonyTuths]

@CryptoTaxGuyETH Why thank you 😁

[CryptoTax @AnthonyTuths]

@MilkRoad @RaoulGMI Ummm . . . I’m a huge believer in blockchain and smart contracts revolutionizing finance but none of this will fix the problem that you’re too stupid to know what’s in your ISDA. Now you won’t understand how your smart contracts work (an already common problem).