US FASB Considers Major Crypto Accounting Rules Update
The US Financial Accounting Standards Board (FASB) is weighing a significant update to cryptocurrency accounting rules, signaling growing institutional recognition of digital assets. The proposed changes would clarify how companies report crypto transfers, particularly when moving assets between wallets, custodians, or service providers.
Current ambiguity around derecognition—when an asset leaves a company's control—has led to inconsistent reporting practices. The FASB's review could expand its 2023 crypto accounting standards or establish new transfer guidelines, potentially bringing much-needed clarity to corporate balance sheets.
For institutional investors and businesses holding digital assets, standardized rules WOULD reduce compliance risks and improve financial transparency. The move reflects crypto's accelerating integration into mainstream finance as regulators adapt frameworks originally designed for traditional assets.
