According to PANews, the U.S. Financial Accounting Standards Board (FASB) issued (Accounting Standards Update (ASU) 2023-08) to clarify the accounting and disclosure requirements for crypto assets such as Bitcoin.
The standard requires that crypto assets that meet six conditions be measured regularly at fair value, with changes in value directly recorded in net income and presented separately in the financial statements.
Enterprises are required to disclose detailed information such as the name, fair value, number of units and restrictive conditions of major crypto assets. The standard applies to fiscal years after December 15, 2024, and early adoption is allowed.
