FASB to Discuss Crypto Asset Transfers in Upcoming Meeting

The Financial Accounting Standards Board (FASB) will convene on November 19th to address the potential inclusion of ‘accounting for crypto asset transfers’ within its technical agenda. The meeting will explore various options, including expanding existing standards introduced in 2023, clarifying derecognition accounting guidance related to crypto asset transfers, or implementing a combination of both measures. This upcoming discussion follows recent action by FASB, which added another project aimed at determining if certain digital assets, such as stablecoins, can be classified as ‘cash’ equivalents.