Posted 9/6/2023, 6:40:00 PM

FASB Says Crypto Assets Should Be Marked at Current Values

The Financial Accounting Standards Board (FASB) is drafting a new accounting standard that requires companies to use a fair-value approach for cryptocurrency, measuring digital assets based on their market trading value, which is expected to be approved by the end of the year.

coindesk.com

Relevant topic timeline:

9/7/2023

New Accounting Rules Help Companies Holding Crypto Like Tesla

The U.S. Financial Accounting Standards Board has voted to change how digital assets are valued, a move that could benefit companies, including Tesla and Bitcoin, that hold cryptocurrency.

9/8/2023

FASB Accounting Change Removes Bitcoin Impairment Barrier for Corporations

The Financial Accounting Standards Board (FASB) has voted to allow companies like MicroStrategy to report their bitcoin holdings without recognizing impairment losses if the cryptocurrency's price drops, eliminating the negative impact on the company's value.