The FASB is closing in on putting its plans for setting new standards for crypto accounting out for comment, with a vote on the matter scheduled for later this week.
The board seems ready to take up whether to proceed from its current deliberations stage to drafting a proposed update after discussing the costs and benefits of the new disclosure requirements that it tentatively settled on last month.
The FASB took a major step in its effort to set new accounting guidance for cryptocurrencies in October when it tentatively decided to make fair value the primary method for measuring certain digital assets.
The move could pave the way toward resolving an accounting issue that may have held some CFOs back from putting digital assets on their balance sheets. Learn more.