The AICPA’s Assurance Services Executive Committee (ASEC) issued an exposure draft on Monday, Dec. 4, to provide a framework that presents information about stablecoins and the assets that back them to provide transparency for digital asset holders.
ASEC is seeking comments on Criteria for the Presentation of the Sufficiency of Assets for Redemption: Specific to Asset-Backed Fiat-Pegged Tokens, which would use certain criteria when reporting at a specific measurement point in time.
The exposure draft asks respondents to consider various questions, including whether the criteria is complete and whether the information is relevant and technically inaccurate. ASEC is also seeking feedback on the definitions of terms included in the glossary.
Interested individuals can email their comments on the draft to StablecoinED@aicpa-cima.com through Monday, Jan. 29.