Crypto Future 2024

As the calendar rolls to 2024, the time of year for predictions and forecasts is upon the marketplace yet again.
The tradition of forecasting and/or predicting financial markets is a well-worn one, and the frequency with which many market watchers are wrong is another well-known trope. Especially in the aftermath of 2023, which itself was a year that did not go according to plan, trying to predict where the fast moving and volatile cryptoasset space is heading is a challenging task. A challenging task, but one that is worth attempting; even if predictions turn out to be incorrect the process of analyzing market trends and major players in and of itself is a productive exercise.
Let’s take a look at a few of the items that just might happen in 2024, and what these developments might mean for the crypto sector moving forward.

Accounting Rules Will Continue Improving

The publication of the long-awaited crypto accounting rule from the Financial Accounting Standards Board is the first such rule that has been issued under Generally Accepted Accounting Principles. Allowing firms that hold crypto on balance sheets to report these assets at fair market value, as well as prescribing additional disclosure and reporting rules is a worthwhile first step toward more comprehensive accounting rules for the space. While the accounting standard is narrow in scope, and does not address a wide array of cryptoassets (wrapped tokens, stablecoins, decentralized finance, and non-fungible tokens are excluded), this opens the door for further developments in 2024.