Share this article
FASB Crypto Accounting Review Won’t Include NFTs, Certain Stablecoins: Report
The accounting standards body outlined its criteria for crypto assets that would be covered by a forthcoming rule regarding companies and their digital assets.
By Nelson Wang
Updated May 11, 2023, 6:14 p.m. Published Aug 31, 2022, 8:54 p.m.
The Financial Accounting Standards Board (FASB) is excluding non-fungible tokens (NFT) and certain stablecoins from its cryptocurrency accounting review, the Wall Street Journal reported.
On Wednesday, the U.S. board described its criteria for crypto assets that would be covered by a long-awaited rule for companies to account for and disclose their holdings of digital assets.
STORY CONTINUES BELOW
Не пропустіть жодної історії.Підпишіться на розсилку State of Crypto вже сьогодні. Переглянути всі розсилки
FASB did not name specific crypto assets that would be excluded from the rule. But it said the digital assets addressed by the rule would include those that are intangible, don’t carry contractual rights to cash flows or ownership of goods and services, and those that are fungible, according to the Journal. NFTs are by their very nature non-fungible and may carry rights to underlying assets, while some stablecoins are tangible assets.
FASB board member Susan Cosper told the Journal that not many companies had invested in NFTs yet. “It’s not pervasive or material at this juncture," she said, adding that “it’s certainly something that we can focus on later if need be.”
FASB did not discuss reporting standards for companies holding cryptocurrencies like bitcoin on their balance sheets. At present, companies must record an unrealized loss if the value of their holdings drop, even if the companies don't sell the assets. But they do not have to report unrealized gains. Similar rules don't exist for companies holding other assets. The crypto industry is hoping FASB will update its recommendations to address this disparity.
UPDATE (Aug. 31, 2022 21:00 UTC): Added background in last paragraph.
Більше для вас
Що варто знати:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Більше для вас
U.S. Senate's Crypto Market Structure Bill Gets Messy as Calendar Weighs Down
The White House has shut down proposals, and lawmakers are circulating the Democrats' asks in what had been a close negotiation, revealing 11th-hour pressure.
Що варто знати:
- Democrats shared a response to Republicans outlining their continuing priorities for a crypto market structure bill, which they said was intended to "reach an agreement and proceed towards a mark-up."
- The document laid out concerns with financial stability, market integrity and public officials' ability to trade and profit off of crypto, echoing concerns laid out in a framework Democrats shared in September.
- The Senate is running out of time in the Congressional calendar to hold a markup hearing — a key step toward progressing the bill — before 2025 ends.
Top Stories
