The Chamber of Digital Commerce is thrilled to acknowledge the remarkable progress made in the realm of crypto asset accounting standards, thanks to the diligent efforts of the team at the Financial Accounting Standards Board (FASB). The completion of the technical agenda project late last year on certain crypto assets represents a pivotal advancement in our industry.

The updated guidance serves as an essential tool for businesses and financial statement users navigating the complex landscape of digital asset accounting. It fosters greater transparency and consistency across the industry, showcasing US leadership in establishing sensible accounting standards.

Looking Forward: A Call for Continued Collaboration

The Chamber of Digital Commerce is eager to continue our collaboration with the FASB. We believe that through ongoing dialogue and partnership, we can address the evolving needs of the crypto asset market and establish comprehensive, resilient accounting practices that capture the true economic essence of crypto assets.

An Invitation to Dialogue

We are curious about the FASB’s vision for the next steps in refining crypto accounting standards and how organizations like ours can support these efforts. The potential for follow-up on wrapped crypto assets, stablecoins, or NFTs presents an exciting avenue for further exploration.

Read our ‘Thank You’ letter to FASB exploring further collaboration efforts.