The U.S. Financial Accounting Standards Board has issued new guidance on “Accounting and Disclosure of Cryptoassets”

The U.S. Financial Accounting Standards Board has issued new guidance on "Accounting and Disclosure of Crypto Assets" to give investors a clearer understanding of the economics of crypto assets and the financial status of companies, while simplifying compliance and reducing costs. (Cointelegraph) Yesterday, according to The Bitcoin Historian, the U.S. Financial Accounting Standards Board (FASB), which is responsible for formulating the Generally Accepted Accounting Principles (GAAP) followed by U.S. listed companies, allows companies to report BTC at fair value on their balance sheets. After the rule is passed, companies can use the Mark to Market (MTM) method to represent unrealized floating gains and show potential speculative gains in quarterly and annual financial reports.