While the blockchain and cryptoasset sector has continued to grow, mature, and expand at a rapid rate, the regulatory outlook has simply not kept pace. In almost every market where cryptoassets have become more mainstream there are substantial questions regarding how these assets should be taxed, valued, and treated from a financial reporting standpoint. Written with both policymakers and practitioners in mind, this research seeks to both identify the open questions with regards to cryptoasset integration as well as propose potential solutions to these issues. In addition, this piece provides action steps and processes for policymakers – regardless of geographic location – to develop a commonsense regulatory framework for cryptoassets moving forward.

By Sean Stein Smith[1]



As 2022 gets underway, and the true implications of the rapid proliferation of cryptoassets the world over in 2021 becomes more understood, the following implication should be clear. Regulation, and regulatory frameworks, must evolve to keep pace with the rapid changes that have emerged in the various aspects of the crypto ecosystem. This does not mean, nor recommend, that regulatory frameworks should be constructed hastily, nor should they be implemented with an eye toward squashing or limiting innovation. Innovation and competition, in whatever industry is being analyzed at the moment, invariably leads to better results for the individuals and institutions in


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