The AICPA on Jan. 12 said that it has updated the 2025 Criteria for Stablecoin Reporting: Specific to Asset-Backed Fiat-Pegged Tokens to cover adding Part II: 2025 Criteria for Controls Supporting Token Operations.

The update is happening in the midst of increased global and domestic scrutiny during the last year on stablecoin oversight, according to the AICPA.

“Last year saw significant momentum around stablecoin regulation, with policymakers increasingly focused on how these stablecoins are issued and how the reserves are managed.” noted Di Krupica, AICPA senior manager of assurance and advisory innovation—digital assets. “The AICPA’s update responds to that environment by providing a clear, practical framework for evaluating whether the controls supporting stablecoin operations are designed and operating effectively.”

Part I of these criteria, released in 2025, created a common framework for stablecoin issuers to show and disclose information at a specific point in time on outstanding stablecoins and the assets backing them, taking out  inconsistencies in reporting while offering more clarity to stakeholders. The new section represents the ongoing risks in stablecoin operations.

Here are the Major Highlights of the Updated 2025 Criteria:

• Increases trust in stablecoins: In the past couple of years, lawmakers both in the US and internationally increased their scrutiny of stablecoins,  highlighting the importance of reserve integrity, risk management, governance and the reliability of information provided to users and markets. As governments and regulatory bodies are evaluating ules for stablecoin issuance and oversight, the need for well-designed and effectively operating controls has become increasingly central to trust in these types of digital assets.

• Addresses risks that are usually associated with stablecoin issuers’ operations: Effective and well‑designed controls help the information presented and disclosed be more accurate. They also ensure that all stablecoin operation controls including issuance, redemptions, asset custody, and vendor management, are operating as they are meant to. The new criteria create a common framework for stablecoin issuers to find the risks usually associated with stablecoin operations and provide control objectives for evaluating the design and operating effectiveness of controls across all aspects of those operations over a specified time period.

• Includes implementation guidance to help issuers and practitioners: To support practice application, the criteria also cover implementation guidance intended to assist both stablecoin issuers and practitioners in finding out if controls are able to achieve the stated objectives.