INSIGHT

Monthly attestation reports: Why stablecoins need continuous assurance 

Sukhman Kallah, Javier Salinas • October 16, 2025

Industries: Blockchain & Digital Assets

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The stablecoin market has grown exponentially, with more than $250 billion in digital assets promising stable value through asset backing. Yet quarterly or annual point-in-time verification isn’t enough to maintain trust in today’s fast-moving digital economy. Monthly attestation reports have emerged as the gold standard for continuous assurance, providing regular third-party verification that builds sustained confidence in stablecoin reserves. 

The dynamic nature of stablecoin operations—with constant minting, burning, and reserve management—demands more frequent oversight. Monthly reporting cycles strike the optimal balance between thoroughness and timeliness, ensuring stakeholders receive regular confirmation of reserve integrity without overwhelming operational resources.  

This article will explore why monthly attestations represent the future of stablecoin assurance and how they benefit all ecosystem participants. 

The evolution to monthly reporting 

The pace of change in today’s stablecoin ecosystem is too rapid for infrequent snapshots to offer meaningful assurance.  

Monthly attestations capture reserve changes more effectively, identifying potential issues before they escalate. When market conditions shift rapidly—as they often do in crypto—monthly reports provide timely insight into how issuers manage their reserves under stress. Regulators increasingly expect this level of transparency, particularly as stablecoins integrate deeper into traditional financial systems. 

The regulatory landscape for stablecoin attestations has evolved significantly, with the New York Department of Financial Services (NYDFS) setting a benchmark through its comprehensive guidance issued in 2022. Under NYDFS oversight, issuers of U.S. dollar-backed stablecoins must maintain full asset reserves, ensure timely redemption policies, and undergo monthly attestations by an independent U.S.-licensed CPA.  

These attestations must verify reserve sufficiency, asset composition, and compliance with DFS-imposed conditions, with reports submitted within 30 days of the covered period. Bermuda has followed suit, with the Bermuda Monetary Authority (BMA) requiring monthly audits for recognized stablecoins used by captive insurers. These stablecoins must be fully backed by liquid assets, redeemable at a 1:1 ratio, and structured to ensure bankruptcy remoteness, protecting reserve assets from creditor claims. Looking ahead, the regulatory momentum continues with the AICPA’s 2025 Criteria for Stablecoin Reporting, which introduces standardized benchmarks for disclosure and attestation, aiming to enhance transparency and comparability across issuers.  

Additionally, the GENIUS Act, enacted in July 2025, mandates monthly reserve disclosures and prioritizes consumer protection, signaling a shift toward bank-like oversight for stablecoin issuers. These developments suggest a future where stablecoin attestations will be governed by harmonized global standards, integrating financial, operational, and technological safeguards to foster trust and resilience in digital finance. 

Building sustained trust through frequency 

Trust in stablecoins depends on consistent demonstration of reserve adequacy. Monthly attestations create a rhythm of verification that reinforces confidence among users, institutions, and regulators. Each monthly report serves as both confirmation of current reserves and a data point in an ongoing track record of transparency. 

This frequency particularly benefits institutional users who need regular confirmation for their own compliance requirements. Banks, asset managers, and corporate treasuries often require timely reserve confirmations before accepting stablecoins as legitimate assets. Monthly attestations align perfectly with these institutional reporting cycles. 

The psychological impact shouldn’t be underestimated either. Regular reporting demonstrates proactive transparency rather than reactive disclosure. Users appreciate knowing that independent verification happens consistently, not just when problems arise. 

Operational benefits for stablecoin issuers 

While monthly attestations require more resources, they provide significant operational advantages.  

• Regular third-party review helps issuers identify and address reserve management issues quickly, before they become material problems. When conducted under AICPA attestation rules, this process includes an understanding of internal controls and their design over the stablecoin attestation. This controls-focused approach goes beyond simply verifying that cash and short-term reserve assets exist in accounts—it helps identify control weaknesses that may require remediation before they lead to more serious issues. 
• Monthly cycles enable better internal controls and processes. Teams develop consistent workflows for gathering attestation materials, improving efficiency over time. This regular practice helps ensure that attestation readiness becomes part of normal operations rather than a quarterly scramble. The AICPA’s recently released guidance on internal controls related to stablecoins reinforces the importance of this systematic approach. 
• Monthly reporting provides more granular data for reserve optimization. Issuers can track how different market conditions affect their reserve composition and make informed adjustments to maintain optimal liquidity and yield profiles.  

Market stability and investor protection 

Monthly attestations contribute directly to market stability by reducing information asymmetry. When investors know that independent verification occurs regularly, they’re less likely to panic during market volatility. This consistent assurance helps prevent the kind of runs that can destabilize even well-reserved stablecoins. 

The frequency also enables faster detection of potential issues. If a reserve shortfall develops, monthly reporting catches it within 30 days. This early warning system protects both issuers and users from prolonged exposure to undiscovered problems. 

For retail investors who may not fully understand reserve mechanics, monthly attestations provide regular confirmation that their digital dollars maintain real backing. This ongoing reassurance supports broader adoption and mainstream acceptance of stablecoins. 

Regulatory compliance and future-proofing 

Regulatory frameworks worldwide increasingly emphasize regular reporting and oversight of stablecoin reserves. Monthly attestations position issuers ahead of these requirements, demonstrating commitment to transparency before regulations mandate it. 

The European Union’s Markets in Crypto-Assets regulation and similar frameworks emerging globally expect frequent reserve verification. Issuers who establish monthly reporting practices now will find themselves better prepared for evolving compliance requirements. 

Monthly reporting also generates the data history that regulators need for effective oversight. Consistent monthly attestations create comprehensive records of reserve management practices, supporting both current compliance and future regulatory discussions.  

The path forward with continuous assurance 

Monthly attestation reports represent more than just increased reporting frequency—they signal a maturation of the stablecoin industry toward professional financial services standards. As the market grows and institutional adoption accelerates, continuous assurance through monthly verification will become the expected norm rather than a competitive advantage. 

Partnering with BPM for your monthly attestation needs ensures you receive the thorough, professional service required for today’s demanding stablecoin environment. Our team understands the unique challenges of digital asset attestations and works closely with blockchain companies to establish efficient monthly reporting processes that satisfy regulatory requirements while supporting business growth.  

To discuss how our comprehensive assurance services can support your stablecoin’s success in an increasingly regulated marketplace, contact us.