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Sean Stein Smith Offers Roadmap on Digital Asset Accounting
February 5, 2026
In a new white paper for the Wall Street Blockchain Alliance (WSBA), Sean Stein Smith—Chair of the WSBA Accounting Working Group and an associate professor of Accounting at Lehman College—lays out what accounting, finance, tax, and audit professionals should be watching as stablecoin issuers such as Circle begin to make moves toward public markets.
Unlike digital currencies that fluctuate in value, such as Bitcoin, stablecoin is backed 1:1 by U.S. currency, so an issuer must always have the equivalent cash value in reserve should a holder wish to redeem their digital tokens. Entering the public markets signals a major step for companies issuing stablecoin, says Stein Smith, because it signals “a commitment to transparency, regulatory engagement, and long-term integration into the global financial system.”