On The Brink with Castle Island Greg Genega (KPMG) on Crypto Auditing (EP.634)
Jun 18, 2025
Greg Genega, Digital Asset and Blockchain leader at KPMG, shares his expertise in crypto auditing. He discusses how KPMG collaborates with crypto firms and the innovations transforming the space. Greg delves into the complexities of crypto operations, tax compliance, and the necessity for specialized audits in a rapidly evolving landscape. He also contrasts public and permissioned blockchains, emphasizing their impact on financial transactions. This engaging dialogue provides invaluable insights for new founders navigating the cryptocurrency world.
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DYDX Migration Tax Story
- Greg shared a tax engagement story involving DYDX's migration from Ethereum to Cosmos.
- Proper management was essential to avoid large tax consequences during this token migration.
AICPA's Crypto Standards Role
- The AICPA has actively advanced crypto accounting and auditing standards since 2018.
- They recently released 2025 stablecoin reporting criteria, aiding transparency and controls.
Traditional Firms' Crypto Caution
- Traditional firms are increasing curiosity and interest in crypto, especially stablecoins.
- Many remain cautious waiting for clearer legislation before fully engaging in crypto workflows.