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How to handle crypto trading gains and losses on your balance sheet

Key takeawaysProperly accounting for crypto assets on your balance sheet is essential for accurate tax reporting and financial transparency.Crypto trading activities should be recorded like stock trading, at fair market value on the day of purchase.In some countries, like the US, crypto losses can offset gains, so keeping track of gains and losses is important for reducing taxable income.Whether you’re an individual investor or a business, treating cryptocurrencies as assets and documenting them ensures compliance with tax laws and minimizes the risk of errors.

Let’s be real, it’s easy to lose sight of what you’ve actually gained or lost, especially when it comes to crypto and its market volatility and frequent trading activities.

And when it comes to accounting, especially in countries like the United States, it gets trickier because you must reflect those numbers properly on your balance sheet.

If you are running a business that involves crypto or you are just

Bitcoin bulls grill sellers as Japan debt woes send gold past $3.3K

Key points:

Bitcoin and gold move higher in step amid jitters over Japan’s debt problem reach “boiling point.”

$108,000 remains a keen target for Bitcoin bulls amid ongoing corporate buying.

Some still see the current BTC price uptrend coming to an abrupt end.

Bitcoin (BTC) kept up pressure on $108,000 at the May 21 Wall Street open as a trader flagged multiple bearish divergences.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
Bitcoin joins gold in Japan debt reaction

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to near the top of its intraday range as the US trading session began.

After its highest-ever daily close, BTC/USD looked increasingly primed for a rematch with all-time highs just above $109,000.

🚨UPDATE: $BTC makes history with new record daily close. pic.twitter.com/LSzuJNJUGx

— Cointelegraph (@Cointelegraph) May 21, 2025

Fresh concerns over Japan’s national debt offered a boost to both crypto and gold on the

AI tool claims 97% efficacy in preventing ‘address poisoning’ attacks

Crypto cybersecurity firm Trugard and onchain trust protocol Webacy have developed an artificial intelligence-based system for detecting crypto wallet address poisoning.

According to a May 21 announcement shared with Cointelegraph, the new tool is part of Webacy’s crypto decisioning tools and “leverages a supervised machine learning model trained on live transaction data in conjunction with onchain analytics, feature engineering and behavioral context.”

The new tool purportedly has a success score of 97%, tested across known attack cases. “Address poisoning is one of the most underreported yet costly scams in crypto, and it preys on the simplest assumption: That what you see is what you get,” said Webacy co-founder Maika Isogawa.

Address poisoning detection infographic. Source: Trugard and Webacy

Crypto address poisoning is a scam where attackers send small amounts of cryptocurrency from a wallet address that closely resembles a target’s real address, often with the same starting and ending characters. The goal is

GENIUS Act ‘legitimizes’ stablecoins for global institutional adoption

Stablecoin adoption among institutions could surge as the United States Senate prepares to debate a key piece of legislation aimed at regulating the sector.

After failing to gain support from key Democrats on May 8, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act passed the US Senate in a 66–32 procedural vote on May 20 and is now heading to a debate on the Senate floor.

The bill seeks to set clear rules for stablecoin collateralization and mandate compliance with Anti-Money Laundering laws.

“This act doesn’t just regulate stablecoins, it legitimizes them,” said Andrei Grachev, managing partner at DWF Labs and Falcon Finance.

“It sets clear rules, and with clarity comes confidence. That’s what institutions have been waiting for,” Grachev told Cointelegraph during the Chain Reaction daily X spaces <a data-ct-non-breakable="null" href="https://x.com/Cointelegraph/status/1924797251127263347"

Guatemala’s largest bank integrates blockchain for cross-border payments

Guatemala’s largest bank, Banco Industrial, has integrated crypto infrastructure provider SukuPay into its mobile banking app, allowing locals to more easily receive remittances powered by blockchain technology.

SukuPay’s infrastructure has been fully embedded inside the Zigi payment app, allowing Guatemalans to receive funds from the United States instantly for a $0.99 flat fee, the company disclosed on May 21.

Users of the Zigi app do not need a crypto wallet or an International Bank Account Number (IBAN) to receive the funds, the company said.

SukuPay CEO Yonathan Lapchik told Cointelegraph that the “key to mainstream adoption of blockchain technology is making it invisible to the end-user” so that there are no technical barriers.

“That’s the only way we’ll scale blockchain to billions of people — by building the rails, not forcing people to learn how they work,” said Lapchik.

Established in 1968, Banco Industrial has more than 1,600 service locations throughout Guatemala. As of 2023,

Hong Kong passes stablecoin bill, set to open licensing by year-end

Hong Kong’s Legislative Council has passed the Stablecoin Bill, paving the way for a regulated framework that could position the region as a global leader in digital assets and Web3 development.

In a May 21 post on X, Legislative Council member Johnny Ng Kit-Chong said the bill passed its third reading, clearing the final hurdle for adoption.

“It is expected that by the end of this year, major institutions will be able to apply to the Hong Kong Monetary Authority to become licensed stablecoin issuers,” Ng said.

Image of the legislative assembly session. Source: Johnny Ng Kit-Chong

According to the new Hong Kong legislation, stablecoins must be backed by fiat currency as underlying assets. Ng said Hong Kong is welcoming “global enterprises and institutions interested in issuing stablecoins to apply in Hong Kong,” offering to personally assist with introductions and collaboration:

“I am also happy to facilitate connections and collaborate with all stakeholders to

Yield-bearing stablecoins surge to $11B, now 4.5% of market: Report

Yield-bearing stablecoins have soared to $11 billion in circulation, representing 4.5% of the total stablecoin market, a steep climb from just $1.5 billion and a 1% market share at the start of 2024.

One of the biggest winners is Pendle, a decentralized protocol that enables users to lock in fixed yields or speculate on variable interest rates. Pendle now accounts for 30% of all yield-bearing stablecoin total value locked (TVL), roughly $3 billion, the firm said in a report shared with Cointelegraph.

Pendle noted that stablecoins make up 83% of its $4 billion total value locked, a sharp rise from less than 20% just a year ago. In contrast, assets such as Ether (ETH), which historically contributed 80%–90% of Pendle’s TVL, have shrunk to less than 10%.

Traditional stablecoins like USDt (USDT) and USDC (USDC) do not pass on interest to holders. With over $200 billion in circulation and US Federal Reserve interest

Bold Technologies and My Aion launch $2.5B smart city AI platform

Abu Dhabi-based Bold Technologies, a subsidiary of conglomerate Bold Holdings, has partnered with international artificial intelligence firm My Aion to launch a $2.5 billion smart city initiative aimed at transforming urban infrastructure through AI.

The companies announced the development of a platform called Aion Sentia Cognitive City, which manages complex urban systems. The platform will be powered by Maia, an AI core engine developed by My Aion, and it aims to optimize and manage systems across mobility, energy, education, healthcare and digital services.

My Aion CEO, Daniele Marinelli, said the AI will knows the user well enough to “recommend the perfect place for your anniversary dinner and book it for you without you lifting a finger.”

The project will debut in Abu Dhabi before expanding internationally and is expected to launch in 18 months.

Multibillion-dollar AI project to create jobs for UAE nationals

The project is structured under a

Bitcoin Suisse eyes UAE expansion with regulatory nod in Abu Dhabi

Bitcoin Suisse secured an in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), marking a major step in the Swiss crypto firm’s expansion beyond the European Union.

The Swiss crypto financial service provider received the in-principle approval through its subsidiary BTCS (Middle East), according to a May 21 news release.

The IPA is a precursor to a full financial services license, which would allow Bitcoin Suisse to provide regulated crypto financial services such as digital asset trading, crypto securities and derivatives offerings, as well as custody solutions.

The approval reflects the firm’s “strong commitment to maintaining the highest standards of transparency, security, and regulatory compliance,” according to Ceyda Majcen, head of global expansion and designated senior executive officer of BTCS (Middle East).

Source: Bitcoin Suisse

“Abu Dhabi, one of the Middle East’s fastest-growing financial centers, presents a compelling opportunity for growth. We look forward

Crypto.com secures EU license to launch crypto financial derivatives

Mobile-first crypto exchange and payment platform Crypto.com secured a license allowing it to offer cryptocurrency financial derivatives in the European Economic Area.

According to a May 21 announcement, Crypto.com secured a Markets in Financial Instruments Directive (MiFID) license.

“We have already expanded our brand presence in Europe since receiving our MiCA licence and we now look forward to providing customers across the region even more ways to engage with our platform through these new offerings,” said Crypto.com’s co-founder and CEO, Kris Marszalek.

Source: Crypto.com

The announcement followed Crypto.com receiving in-principle approval to operate across the European Union under a Markets in Crypto-Assets (MiCA) license in mid-January. The company received regulatory approval for its acquisition of Cyprus-based trading services firm A.N. Allnew Investments from the Cyprus Securities and Exchange Commission (CySEC).

Crypto.com did not immediately respond to Cointelegraph’s request for comment.

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