**🚨 Breaking News:** 💰 The new U.S. Financial Accounting Standards Board (FASB) cryptocurrency accounting standard is set to evaluate cryptocurrency at fair value. Companies holding cryptocurrency, including MicroStrategy, Tesla, and Block, will now be required to include cryptocurrency profits and losses in their quarterly earnings reports and reflect changes in value. The new standard is slated to take effect after December 15, 2024, with the possibility of early adoption. The move is seen as a significant change from the previous practice, as explained by cryptocurrency analyst Bitcoin Archive, where companies could only value BTC at the lowest purchase price, resulting in recorded losses even during price increases. Reported by Bloomberg. #CryptoAccounting 📊💼📈