Open AccessHow Stablecoin Implementation Can Lead to Increased Accounting Clarity and Standardization
Author(s) -
Sean Stein Smith
Publication year - 2019
Publication title -
asian journal of finance and accounting
Language(s) - English
Resource type - Journals
ISSN - 1946-052X
DOI - 10.5296/ajfa.v11i2.15740
Subject(s) - scrutiny , clarity , accounting , standardization , conversation , cryptocurrency , business , political science , public relations , computer science , sociology , computer security , law , biochemistry , chemistry , communication
Stablecoins represent the current iteration of cryptoasset development and implementation but remain an area in which further development and research is necessary to improve the reporting and accounting codification conversation. Although the various iterations of stablecoins do purport to address some of the significant problems and issues preventing wide adoption and implementation of cryptocurrencies there is also some debate around the future of these cryptoassets. Accounting and reporting guidelines for cryptoassets overall, including stablecoins, remain fragmented due to regulatory misunderstanding as well regulatory scrutiny over proposed stablecoin projects. What this research does is present both an analysis of stablecoins as well as put forth a number of suggestions as to how stablecoins can help drive the accounting classification dialogue forward. Written with both a practitioner and academic audience in mind this research can be used to pursue further implementation and research projects moving forward.