Cryptocurrency News
Michael Saylor welcomes FASB vote to review crypto accounting standards
2022.05.12 06:51
Michael Saylor welcomes FASB vote to review crypto accounting standards
Bitcoin proponent and MicroStrategy CEO Michael Saylor has welcomed the U.S. Financial Accounting Standards Board (FASB) vote to review accounting rules for digital assets and commodities.
As it stands under current FASB guidelines — which is the source of authoritative Generally Accepted Accounting Principles (GAAP) — companies must report digital assets such as BTC as “intangible assets” on their balance sheets.
