bitcoin and to cryptocurrencies Increasing corporate demand for assets has caused some hesitation in accounting for assets.
Institutional investors in all assets they hold crypto assets They also need to be reflected in their balance sheets within certain accounting rules.
taking action on this US Securities and Exchange Commission (SEC) he said today that companies that hold cryptocurrencies on behalf of users and customers and are registered on the US stock exchanges should account for these assets as a liability on their balance sheets and disclose the associated risks to investors.
The SEC’s guidance on accounting for crypto assets, cryptocurrency exchanges retailers that offer crypto services and hold cryptocurrencies on behalf of their customers. brokers and banks He stated that it would be valid for traditional companies such as
Stating in the guide that there are significant technological, legal and regulatory risks associated with the protection of cryptocurrencies, the SEC concluded that cryptocurrencies He said that keeping the accounting should add to the balance sheets of companies.
“Technological mechanisms that support how cryptocurrencies are issued, held or transferred, and legal uncertainties about holding cryptocurrencies for others present significant risks, including increased risk of financial loss.”
Saying that crypto assets should be accounted for at fair value, the SEC also stated that companies should also disclose the amount of crypto assets they hold.
Don’t forget to follow us on Twitter for last minute developments.
The SEC said that US-listed companies that hold cryptocurrencies on behalf of users and customers should account for these assets as a liability on their balance sheets and disclose the associated risks to investors.#Bitcoin
— Bitcoin System (@bitcoinsystem) March 31, 2022