The accounting and auditing challenges for crypto funds: a glimpse into the EU and US markets

Crypto assets present significant accounting and auditing challenges because they do not fit neatly into established frameworks like U.S. GAAP or IFRS, creating uncertainty in classification, valuation, and disclosure. In the U.S., the approach relies heavily on interpretive guidance, with enforcement trends showing fewer cases but higher average settlement amounts, increasing personal risk for professionals. Conversely, the EU is moving toward standardization through regulations like MiCA, emphasizing formalized compliance and supervisory coordination. Market participants are adopting best practices like third-party attestations and enhanced internal controls to manage this uncertainty. Ultimately, navigating crypto accounting requires greater technical knowledge until more robust, harmonized frameworks emerge in both regions to enhance transparency and reduce risk.

(Source：CoinDesk)