Summary
- The US FASB's cryptocurrency fair value accounting standards have been officially implemented.
- Companies holding cryptocurrencies are required to reflect cryptocurrency gains and losses and value changes in their quarterly earnings reports.
- The founder of MicroStrategy predicted that the new accounting standards will encourage companies to adopt Bitcoin as a reserve asset.
According to Bitcoin Magazine on the 15th (local time), the cryptocurrency fair value accounting standards set by the Financial Accounting Standards Board (FASB) in the United States are now in effect.
According to a document released by FASB last year, companies holding cryptocurrencies such as MicroStrategy, Tesla, and Block are required to include cryptocurrency gains and losses in their quarterly earnings reports and reflect any changes in value.
Michael Saylor, the founder of MicroStrategy, predicted that the new accounting standards for evaluating cryptocurrencies at fair value by FASB will encourage companies worldwide to adopt Bitcoin as a corporate reserve asset.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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