The Financial Accounting Standards Board in a unanimous vote Wednesday agreed to add a new project to its high priority standard-setting technical agenda that will address how companies should account for transfers of crypto assets, including wrapped tokens and receipt tokens.
As part of the project, which paves the way for a new crypto-related update to standards that underpin generally accepted accounting principles, the board will consider whether to expand the scope of its first guidance on digital assets that it issued in 2023: Intangibles — Goodwill and Other — Crypto Assets (Subtopic 350-60).
In casting votes, several board members reflected on their…
