Insights & Resources

FASB will require entities to use fair value accounting for crypto assets and provide additional information about their crypto holdings beginning in 2025.

According to the ruling, the fair value of staking rewards should be recognized as taxable income as of the date and time the taxpayer gains dominion and control.

The law, which takes effect Sept. 1, 2023, offers greater clarity for Bitcoin mining companies that use stranded and flared natural gas to power their operations.

In an effort to increase financial transparency, the FASB tentatively approved crypto assets to be separately disclosed from other intangible assets.

Recent cryptocurrency exchange failures were not caused by technological issues, but by a lack of structure in corporate governance and internal controls.

U.S. banking regulatory agencies (including the Federal Reserve, FDIC & OCC) released their first-ever joint statement on crypto-asset risks to banking organizations.

Companies must now account for cryptocurrency assets using fair value, according to a decision made by the Financial Accounting Standards Board (FASB).

The demand for guidance on how firms should manage digital assets for accounting purposes continues to grow in tandem with the use and acceptance of crypto assets.

To improve tax compliance, the U.S. Treasury Department proposed four changes to "modernize" the corporate and individual reporting of digital assets.