The Financial Accounting Standards Board, which sets accounting standards for private and public U.S. companies, has not developed any accounting standards for digital assets. The lack of uniform standards has led to companies with crypto holdings to speculate on an appropriate accounting method on their own. This impacts financial statements and discourages companies from buying and holding digital assets. It is essential that businesses and investors of all types are able to clearly reflect the value of their assets on their balance sheets.
Perianne Boring on Mornings with Maria, discussing crypto accounting standards.
More than 50 Crypto Stakeholders Urge FASB to Develop Accounting Standards for Digital Assets
The Chamber of Digital Commerce, along with over 50 digital asset stakeholders, submitted a letter to the Financial Accounting Standards Board advocating for fair value accounting treatment and clear GAAP standards for digital assets.
Accounting Standards Are Key to Getting Digital Assets on Corporate Balance Sheets:
Wall Street Journal: Accountants, Lawmakers Urge Rules on Crypto Accounting Standards
Adding it Up: A Chamber Webinar on establishing robust standards for digital assets
Who Cares About Crypto Accounting? We do
What Our Members Are Saying
“The lack of accounting standards is one of the biggest barriers preventing corporate investors from having exposure to digital assets. We need crypto accounting standards now.”