Oct 12 2017 The Impending Risks of ICO Accounting: a massive liability bubble for issuers?
As optimistic as Loyyal and myself, in particular, are about the future potential of ICOs, we remain concerned that current accounting approaches towards ICOs are creating a potentially disastrous bubble for companies issuing them. If we are to avoid this disaster at all, we as an industry need to immediately start a more robust dialog around the accounting principles involved and engage the rest of the financial services industry.
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WHY IT MATTERS: blockchain technology is great but highlights serious limitations in accounting and regulation that must be addressed rapidly.