FASB voted on Wednesday, Feb. 1, to issue an exposure draft of a new accounting standard that would require companies to measure crypto-assets, like Bitcoin, using fair value accounting.
Last October, the board decided fair value accounting was the right method for crypto-assets since there are currently no established accounting or disclosure rules for them.
The proposed standard will have a 75-day comment period. FASB expects to issue the standard before the end of March. Read more.