FASB Directs Staff to Draft Final Standard on Crypto Assets
Published on:
Sep 11, 2023
![FASB Directs Staff to Draft Final Standard on Crypto Assets Image]()
This Heads Up discusses tentative decisions made by the FASB at its September 6, 2023, meeting related to its proposed Accounting Standards Update (ASU) Intangibles — Goodwill and Other — Crypto Assets (Subtopic 350-60). On the basis of comments received on the proposed ASU, the Board directed its staff to draft a final standard. Under the new guidance, an entity would be required to subsequently measure certain crypto assets at fair value, with changes in fair value included in net income in each reporting period.
