This retrospective looks back at Houssen Issouf Aly's interview with Wagmi Trends about the creation of HODL Consulting. The original discussion reflects the Web3 landscape of its time, including NFTs, DAOs and metaverse projects. Those historical examples do not describe the firm's current service catalogue.
From corporate finance to crypto accounting
Originally from Madagascar, Houssen moved to France in 2004 to continue his studies. His interest in corporate finance led him through the French accountancy qualification pathway to the Diplôme d'expertise comptable, or DEC.
In the interview, he described a decade spent helping international businesses establish French operations. The work included choosing structures, dealing with transfer-pricing questions and helping overseas accounting teams understand local requirements. His discovery of blockchain and crypto-assets in 2017 opened a new area of professional interest.
A professional dissertation on DeFi
For the DEC dissertation, Houssen wanted to examine a subject connected with crypto-assets. His research moved through initial coin offerings and Lightning Network payments before focusing on decentralised finance.
The dissertation concerned the accountant's support for an individual investing in DeFi. Its purpose was methodological: how to understand a client's transactions, identify the relevant questions and organise an engagement in an unfamiliar environment. The interest also drew on his experience of a country where trust in banking institutions could be limited.
Why HODL Consulting was created in 2022
Conversations with entrepreneurs on Telegram and Discord revealed recurring problems in crypto accounting. Founders could use a protocol or receive a token payment while still struggling to explain the transaction in a conventional accounting file.
HODL Consulting was created to connect this technical environment with business obligations. Examples in the original interview included metaverse premises and contributors working with DAOs. The broader question remains relevant: identify the parties, the services, the rights acquired and the evidence needed for accounting and tax analysis.
How to approach an unclear classification
The interview discussed the difficulty of classifying novel tokens. Depending on the rights involved, superficially similar assets may raise different legal and tax questions. The historical discussion of possible NFT tax rates should not be used as current advice or as a universal classification.
A defensible approach starts with the contract, actual use and applicable rules. Where needed, the accountant coordinates with legal advisers or considers an appropriate request for clarification from the tax authority. A request for a ruling is a specific procedure, not a guarantee that a preferred treatment will be accepted.
Identifying customers and documenting revenue
The original conversation distinguished public wallet addresses, customers identified through a verification process, and purchases processed through conventional payment systems. These situations provide different information. An address visible on a blockchain does not by itself establish the customer's identity or tax location.
For the accountant, the practical task is to connect transaction data with contracts, invoices and the facts needed to analyse the business activity.
Predictions in their historical context
Houssen expected wallets, tokenised access and crypto payments to become more familiar. He also discussed the profession's need for education and practical testing. These were views expressed at the time, not claims that every predicted use has since become widespread.
The enduring advice to founders was to organise the project with suitable banking, legal and accounting partners before launching transactions. A technically successful launch can still create difficulties if ownership, contracts, invoicing and cash withdrawals have not been considered.
Original source: interview published by Wagmi Trends. The original article link is currently unavailable. For current services and other interviews, visit the firm and our press review.