The US Financial Accounting Standards Board (FASB) began applying its accounting standard for the fair value measurement of cryptocurrencies on December 15th. As per a document released last year, companies like MicroStrategy, Tesla, and Block, which hold cryptocurrencies, are expected to include the crypto profits and losses in their quarterly earnings reports, reflecting the change in their value. Previously, companies could only value BTC at the price it was purchased, resulting in recording losses instead of profits even when the price increased. The implementation of the new accounting standard is anticipated to reduce the barrier for companies to include BTC in their financial statements.

#BTC