According to Foresight News, Paul Munter, chief accountant of the U.S. Securities and Exchange Commission (SEC), said that accounting firms working with crypto clients may be held legally liable for material misstatements by their clients. If an accounting firm realizes that its client has made misleading statements to the public about the nature of its non-audit work, the accounting firm should consider withdrawing and disassociating itself from the client, including making a public statement or notifying the committee.