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The American Accounting Standards Board is considering adding an accounting item for "encryption asset transfers."
On November 14, according to Bloomberg, the Financial Accounting Standards Board (FASB) will hold a meeting on November 19 to discuss whether to officially include “accounting treatment of digital asset transfers” in its technical agenda. The meeting will focus on several possible treatment paths: expanding the scope of the landmark digital asset accounting standards (FASB 2023 rules) issued in 2023; clarifying the accounting guidance for “derecognition” when transferring digital assets; or taking both measures simultaneously. This meeting comes just weeks after FASB added another technical project aimed at clarifying whether certain digital assets, such as stablecoins, can be classified as “cash” equivalents.