Media reports have confirmed the unanimous approval of regulations governing the assessment of the fair value of cryptocurrency holdings by companies, as declared by the U.S. Financial Accounting Standards Board (FASB). The FASB serves as the regulatory body responsible for establishing and dictating accounting and reporting standards adhered to by entities following the principles of U.S. Generally Accepted Accounting Principles (GAAP). In the month of March, the FASB initiated a request for input regarding suggested modifications to the FASB Accounting Standards Codification.
Following a thorough discussion, the proposed amendments were subjected to a formal vote on Sept. 6, 2023, thus paving the way for their…
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