FASB Tentatively Decides on Fair Value Measurement for Crypto Assets

Published on: Oct 18, 2022

At its October 12, 2022, meeting, the FASB continued deliberating its project on the accounting for and disclosure of crypto assets and reached several decisions. Specifically, the Board tentatively decided to: Require all public and private entities to initially measure crypto assets at fair value in accordance with ASC 820. Subsequent changes in fair value would be recognized in earnings; not provide any measurement alternatives for situations in which a crypto asset does not have a quoted price in active markets; require entities to expense as incurred commissions and other transaction costs related to the acquisition of crypto assets unless industry-specific guidance stipulates otherwise.

This publication was released by our US firm.


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