The Financial Accounting Standards Board published an Accounting Standards Update on crypto on Wednesday.
The long-awaited update requires certain crypto assets to be deemed at fair value.
“The amendments also improve the information provided to investors about an entity’s crypto asset holdings by requiring disclosure about significant holdings, contractual sale restrictions and changes during the reporting period,” FASB wrote.
The amendment will go into effect Dec. 15, 2024.
“The amendments in the ASU improve the accounting for certain crypto assets by requiring an entity to measure those crypto assets at fair value each reporting period with changes in fair value recognized…
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