Following Ripple’s partial victory against the SEC crypto firms are no longer running scared… so the regulator is now trying to put the willies up any accountancy firm willing to work with the crypto industry.

Crypto assets are a new and complicated category for accountants. Clear accounting and reporting guidelines are one of the signs of a mature industry. Currently, it is difficult to call US GAAP and IFRS guidance on crypto-assets comprehensive, but the work is ongoing.