​​🤓 The US has approved rules for accounting for crypto assets for companies

The US Financial Accounting Standards Board (FASB) has approved rules for accounting for cryptocurrencies at fair market value.

The new measures will take effect from 2025. However, companies can start implementing them sooner.

In effect, this innovation allows companies to buy and hold crypto assets in corporate treasuries without balance sheet penalties.

Companies will also be able to display profits and losses for this item in their reports.

MicroStrategy founder Michael Saylor said the new rules remove a major obstacle to corporate adoption of Bitcoin as a treasury asset.