Accounting

Lawmakers want to get rid of a controversial accounting policy pushed by Chair Gary Gensler's Securities and Exchange Commission. (Jesse Hamilton/CoinDesk)
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)

The TRES team (TRES)
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)

MicroStrategy's Michael Saylor is all smiles after the FASB rule change (Joe Raedle/Getty Images)
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)

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)
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)

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)
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)

The Financial Accounting Standards Board is issuing the first crypto-specific accounting standard for companies with digital assets. (Krisanapong Detraphiphat/Getty Images)
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)

Seoul at dusk with Lotte Tower and mountains in background
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

Chainlink Founder Sergey Nazarov. (Chainlink Labs)
Chainlink ‘Proof of Reserve’ Proves Little Beyond Data Going In, Coming Out
Projects like TrueUSD and Paxos are turning to Chainlink to give users transparency into their reserves, but their numbers remain difficult to verify.
Chainlink Founder Sergey Nazarov. (Chainlink Labs)

(Dimitri Karastelev/Unsplash, modified by CoinDesk)
New 1099-DA Reporting Creates More Headaches for Taxpayers
You might think new tax reporting rules for exchanges should mean less work for the taxpayer, but it’s the opposite, says CPA Kirk Phillips.
(Dimitri Karastelev/Unsplash, modified by CoinDesk)

Tesla has previously written down crypto holdings in accounting rules the industry says need an overhaul. (Justin Sullivan/Getty Images)
U.S. Accounting Board Seeks Crypto Standards Requiring Firms to Report Price Shifts
The first U.S. rule for crypto accounting would aim at giving investors a better sense of a company’s digital assets through a “fair-value” approach.
Tesla has previously written down crypto holdings in accounting rules the industry says need an overhaul. (Justin Sullivan/Getty Images)