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Accounting

(President Joseph Biden, on Twitter/X)
Opinion
Opinion
Does the SAB 121 Vote Mean Anything for Future Crypto Legislation?
An encouraging sign of bipartisan agreement over sane digital asset rules is also business as usual.
(President Joseph Biden, on Twitter/X)
By Daniel Kuhn
May 17, 2024 at 7:17 p.m. UTC
May 17, 2024
OpinionThe NodeNewslettersSECAccountingCongressBiden Administration
(White House, modified by CoinDesk)
Opinion
Opinion
Will Biden Get the Final Say Over a Controversial Crypto Accounting Rule?
Critics of SAB 121, introduced in March 2022, have called the rule “obscure,” a “diktat” and a “pernicious weed.”
(White House, modified by CoinDesk)
By Daniel Kuhn
May 9, 2024 at 7:45 p.m. UTC
May 9, 2024
OpinionThe NodeNewslettersBiden AdministrationSECAccountingCustody
President Joe Biden is threatening to veto an effort in Congress to overturn the Securities and Exchange Commission's crypto accounting policy. (Chip Somodevilla/Getty Images)
Policy
Regulations
House Votes to Erase SEC Crypto Policy While President Biden Vows Veto
The House of Representatives voted in favor of a resolution to oppose the SEC's crypto accounting policy, Staff Accounting Bulletin No. 121, as President Biden defends it.
President Joe Biden is threatening to veto an effort in Congress to overturn the Securities and Exchange Commission's crypto accounting policy. (Chip Somodevilla/Getty Images)
By Jesse Hamilton
May 8, 2024 at 8:17 p.m. UTC
May 8, 2024
RegulationsJoe BidenPatrick McHenryWhite HouseAccountingSecurities and Exchange CommissionCongress
Lawmakers want to get rid of a controversial accounting policy pushed by Chair Gary Gensler's Securities and Exchange Commission. (Jesse Hamilton/CoinDesk)
Policy
Regulations
U.S. Lawmakers Seek to Overturn SEC's Crypto Accounting Policy
Sen. Lummis and members of the House are pushing to repeal the SEC's Staff Accounting Bulletin 121, an effort that makes it harder for companies to custody crypto.
Lawmakers want to get rid of a controversial accounting policy pushed by Chair Gary Gensler's Securities and Exchange Commission. (Jesse Hamilton/CoinDesk)
By Jesse Hamilton
Feb 1, 2024 at 10:17 p.m. UTC
Feb 1, 2024
RegulationsSecurities and Exchange CommissionAccountingSenateCongressLegislation
The TRES team (TRES)
Finance
Accounting
Crypto Accounting and Tax Reporting Platform TRES Raises $11M to Add New Blockchains
TRES currently services clients with combined assets worth $19 billion, helping them manage, monitor and reconcile their digital asset activity across more than 100 layer-1 an...
The TRES team (TRES)
By Jamie Crawley
Dec 20, 2023 at 2:00 p.m. UTC
Dec 20, 2023
AccountingTaxFunding RoundsSeries A
MicroStrategy's Michael Saylor is all smiles after the FASB rule change (Joe Raedle/Getty Images)
Policy
Regulations
FASB Confirms 'Fair Value' Approach for Corporate Crypto Holdings
The new rules by the U.S. accounting standards setter would go into effect in December 2024.
MicroStrategy's Michael Saylor is all smiles after the FASB rule change (Joe Raedle/Getty Images)
By Nikhilesh De
Dec 13, 2023 at 4:25 p.m. UTC
Dec 13, 2023
RegulationsFASBAccounting
Chair Gary Gensler's U.S. Securities and Exchange Commission may press on with its crypto accounting policy if Congress fails to block it. (Jesse Hamilton/CoinDesk)
Policy
Analysis
U.S. SEC's Knock From Congressional Watchdog May Not Budge Crypto Accounting Policy
Even if the agency is forced by the GAO finding to submit its Staff Accounting Bulletin 121 to Congress for review, lawmakers probably won't strangle the policy, according to...
Chair Gary Gensler's U.S. Securities and Exchange Commission may press on with its crypto accounting policy if Congress fails to block it. (Jesse Hamilton/CoinDesk)
By Jesse Hamilton
Nov 2, 2023 at 3:21 p.m. UTC
Nov 2, 2023
AnalysisAccountingGovernment Accountability OfficeSecurities and Exchange CommissionRegulationCongress
Chair Gary Gensler's U.S. Securities and Exchange Commission has insisted that its accounting policies for crypto didn't need to be treated as a formal rule, but the Government Accountability Office disagrees. (Jesse Hamilton/CoinDesk)
Policy
Regulations
U.S. SEC Messed Up in Handling Contentious Crypto Accounting Bulletin: GAO
The Staff Accounting Bulletin 121 said customers' crypto assets in banks should be held on the banks' own balance sheets. That should have been a rule, not guidance, the GAO s...
Chair Gary Gensler's U.S. Securities and Exchange Commission has insisted that its accounting policies for crypto didn't need to be treated as a formal rule, but the Government Accountability Office disagrees. (Jesse Hamilton/CoinDesk)
By Jesse Hamilton
Oct 31, 2023 at 7:11 p.m. UTC
Oct 31, 2023
RegulationsAccountingSecurities and Exchange CommissionGovernment Accountability OfficeRulemakingCongress
The Financial Accounting Standards Board is issuing the first crypto-specific accounting standard for companies with digital assets. (Krisanapong Detraphiphat/Getty Images)
Policy
Regulations
FASB Says Crypto Assets Should Be Marked at Current Values
The U.S. standard-setting organization for accounting has moved to insist companies use “fair-value” accounting to report their crypto holdings.
The Financial Accounting Standards Board is issuing the first crypto-specific accounting standard for companies with digital assets. (Krisanapong Detraphiphat/Getty Images)
By Jesse Hamilton
Sep 6, 2023 at 6:40 p.m. UTC
Sep 6, 2023
RegulationsAccountingFASBRulemaking
Seoul at dusk with Lotte Tower and mountains in background
Policy
Regulations
South Korea Wants Companies to Disclose Crypto Holdings
Under draft rules, companies that issue or own crypto will have to make disclosures in their financial statements starting next year.
Seoul at dusk with Lotte Tower and mountains in background
By Lavender Au
Jul 12, 2023 at 7:27 a.m. UTC
Jul 12, 2023
RegulationsSouth KoreaAccounting