The Financial Accounting Standards Board (FASB) has published proposed GAAP Taxonomy Improvements for a proposed Accounting Standards Update (ASU).
If adopted, the following ASU would improve the accounting for and disclosure of some crypto assets:
- Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets
For further details, see the proposed ASU’s Release Notes on the FASB’s website. The GAAP Taxonomy Improvements for the proposed ASU is open for public comment until June 6, 2023. Interested parties may submit feedback by emailing their comments to xbrled@fasb.org.
Source:
FASB Staff Issues Proposed GAAP Taxonomy Improvements for a Proposed Accounting Standards Update—Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets (xbrl.us)
