The U.S. Introduces New Standards for Crypto Accounting
The U.S. Financial Accounting Standards Board (FASB) is set to revise accounting standards, allowing companies to assess cryptocurrency holdings based on fair value.
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The
U.S. Financial Accounting Standards Board (FASB) is set to revise
accounting standards, allowing companies to assess cryptocurrency
holdings based on fair value.
“It
will provide investors and other capital allocators with more relevant
information that better reflects the underlying economics of certain
crypto assets and an entity's financial position while reducing cost and
complexity associated with applying current accounting,” said the Chair
of the FASB.
MicroStrategy
CEO Michael Saylor sees this as a positive step likely to spur global
corporate adoption of Bitcoin as a treasury asset.
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