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The U.S. Accounting Standards Board is considering adding the "Cryptocurrency Transfer" accounting project
BlockBeats News, November 14th, according to Bloomberg, the U.S. accounting standard-setting body, the Financial Accounting Standards Board (FASB), will meet on November 19th to discuss whether to formally include "the accounting treatment for the transfer of crypto assets" in its technical agenda. The meeting will focus on exploring several possible treatment paths: expanding the application scope of the milestone crypto asset accounting standard issued in 2023 (FASB 2023 Rule); clarifying the accounting guidance for "derecognition" when transferring crypto assets; or adopting both measures simultaneously.
This meeting comes just weeks after FASB recently added another technical project aimed at clarifying whether certain digital assets such as stablecoins can be classified as "cash" equivalents.
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