Towards a SM prediction for CP violation in charm

We provide an overview of the current experimental and theoretical status of charm CP violation and discuss recent progress in obtaining a Standard Model prediction for $\Delta a_{\rm CP}^{\rm dir}$ using the framework of light-cone sum rules. Furthermore, we present new results for the ratios of the direct CP asymmetries and of the branching fractions for the modes $D^0 \to \pi^+ \pi^-$ and $D^0 \to K^+ K^-$.