Tag: accounting
Wall Street Asks Biden Not to Veto Congress’ Rejection of SEC’s SAB 121 Crypto Policy
"SAB 121 effectively precludes regulated banking organizations from offering digital asset custody at scale since it treats the assets as if they are [...]
Does the SAB 121 Vote Mean Anything for Future Crypto Legislation?
Unfortunately however, the legislative measure is now heading to the desk of President Joseph Biden, who has vowed to veto it in a show of solidarity [...]
U.S. Senate Votes to Kill SEC’s Crypto Accounting Policy, Testing Biden’s Veto Threat
The U.S. Senate joined the House of Representatives on Thursday in seeking to erase the controversial Securities and Exchange Commission (SEC) crypto [...]
House Poised to Vote on Erasing SEC Crypto Policy While President Biden Vows Veto
The U.S. House of Representatives is poised to vote on a resolution Wednesday to reject the Securities and Exchange Commission (SEC) cryptocurrency ac [...]
MicroStrategy (MSTR) Could Merit S&P 500 Index Inclusion if It Adopts New Accounting Rules: Benchmark
MicroStrategy’s corporate strategy is partly based on the acquisition and holding of bitcoin. As of March 19 it held 214,246 bitcoin worth $13.9 billi [...]
U.S. Lawmakers Seek to Overturn SEC’s Crypto Accounting Policy ‘SAB 121’
"The SEC issued SAB 121 without conferring with prudential regulators despite the accounting standard’s effects on financial institutions’ treatment o [...]
TRES Raises $11M to Expand Crypto Accounting, Tax Platform to New Blockchains
As the crypto industry sees more institutional adoption, there will be a greater need for accounting and taxation reporting tools similar to the ones [...]
FASB Confirms 'Fair Value' Approach for Corporate Crypto Holdings
The Financial Accounting Standards Board, a U.S. entity that details how companies should report assets on their balance sheet, published a standards [...]
U.S. SEC’s Knock From GAO Unlikely to Budge Agency’s View on Crypto Accounting
SAB 121 has been chasing large banks and brokers away from the crypto sector, said Paul McCaffery, who works as a managing director focusing on digita [...]
U.S. SEC Messed Up in Handling Contentious Crypto Accounting Bulletin 121: GAO
"Today, the GAO recognized SAB 121 for what it is: regulation under the guise of staff guidance," said Nathan McCauley, CEO and co-founder of Anchorag [...]
FTX Used Customer Funds to Buy Back Binance Stake, Accounting Prof Reveals
“Oh, yes,” Easton said when asked by the court whether FTX ever spent user deposits. The professor testified these user deposits were reinvested into [...]
Mark to market accounting meets crypto: New FASB changes
In early September 2023, the US Financial Accounting Standards Board (FASB) finally approved the commonly accepted accounting practice of mark to mark [...]
Bitwave acquires crypto accounting platform Gilded
Crypto winter keeps sparking consolidation among crypto firms. The latest deal in the industry is the acquisition of payments and accounting platform [...]
Change to US accounting rules will be a boon to companies holding crypto in 2025
The Financial Accounting Standards Board (FASB) has unanimously approved rules for accounting for the fair value of companies’ cryptocurrency holdings [...]
TrueUSD’s Reserves Were Attested by Former FTX.US Accounting Team
Armanino’s digital asset team rebranded itself to The Network Firm, as CoinDesk reported, to continue performing audits and attestations after the col [...]