FASB Just Flipped the Crypto Accounting Script

Summary

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The Financial Accounting Standards Board (FASB) has released update 2023-08, which changes the way companies account for digital assets such as Bitcoin and Ethereum. The update sees digital assets measured at fair value each reporting period, which will make financial statements more volatile but transparent, reflecting the true risk and value associated with holding cryptocurrency.

Crypto used to sit quietly in financial statements, like that one line item nobody really questioned. Not anymore. With FASB’s Accounting Standards Update 2023-08, digital assets just got promoted to the main stage, and they are bringing volatility,...

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FASB Just Flipped the Crypto Accounting Script

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