FASB Considers New Rules for Crypto Transfers to Clarify Accounting
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- FASB is considering new rules for accounting crypto transfers to reduce confusion over when assets leave a company’s books.
- The board may expand 2023 fair-value standards or create specific derecognition rules.
- Clearer rules could boost mainstream adoption, improve reporting consistency.
The US Financial Accounting Standards Board (FASB) is preparing to review how companies report cryptocurrency transfers. Bloomberg reports the board will discuss next week whether to add “accounting for crypto asset transfers” to its technical agenda.
The discussion focuses on whether FASB should expand its 2023 crypto accounting rules or set clearer standards for when assets move between wallets, custodians, or service providers. Right now, companies often handle these transfers differently, making reporting inconsistent.
Push to Fix Derecognition Confusion
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Read The Full Article FASB Considers New Rules for Crypto Transfers to Clarify Accounting On Coin Edition.
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FASB Considers New Rules for Crypto Transfers to Clarify Accounting
Share:
- FASB is considering new rules for accounting crypto transfers to reduce confusion over when assets leave a company’s books.
- The board may expand 2023 fair-value standards or create specific derecognition rules.
- Clearer rules could boost mainstream adoption, improve reporting consistency.
The US Financial Accounting Standards Board (FASB) is preparing to review how companies report cryptocurrency transfers. Bloomberg reports the board will discuss next week whether to add “accounting for crypto asset transfers” to its technical agenda.
The discussion focuses on whether FASB should expand its 2023 crypto accounting rules or set clearer standards for when assets move between wallets, custodians, or service providers. Right now, companies often handle these transfers differently, making reporting inconsistent.
Push to Fix Derecognition Confusion
A key issue…
Read The Full Article FASB Considers New Rules for Crypto Transfers to Clarify Accounting On Coin Edition.
Read More
How to Sell Bitcoin to Congress: Frame It as “Equity” (Dems) or “Energy” (GOP)