The Financial Accounting Standards Board (FASB) issued a proposal in March 2023 to provide accounting and disclosure rules for certain types of cryptocurrency assets. The proposal would help companies more accurately reflect the economics of such assets. If finalized, the proposal would introduce the first explicit accounting standard on crypto assets into U.S. Generally Accepted Accounting Principles (GAAP).
For example, the proposed disclosures for Ethereum would include:
The company would also disclose information about restrictions in crypto holdings, what it would take to lift any restrictions, and any changes in those holdings.
Please select this link to read the complete article from OSAE Mission Partner Clark Schaefer Hackett (CSH).