House Democrat Floats China Risk Reporting, Crypto Tax Reforms
Representative Brad Sherman (D-CA) on November 9, 2023, rolled out draft legislation that would expand risk disclosures related to public …
New Subtopic for Crypto Assets to be Added to Intangibles Section of U.S. GAAP by Year-End
The FASB plans to add a new subtopic number for crypto assets into the intangible assets section of the codification …
Crypto Miners, Wallet Makers May Not Be Digital Asset Brokers, Strategist Says
Positing who should need to report certain cryptocurrency transactions under a controversial recent addition to the Tax Code, a former …
Firms Want to Adopt ‘Operable’ FASB Proposal on Crypto Rules ASAP with Fixes; Signal Appetite for More Rules
Some of the nation’s largest crypto businesses, Big Four accounting firms and others, told the FASB that proposed crypto assets …
SEC Tells Third Circuit Coinbase Not Entitled to Faster Answer on Crypto Rules Petition
The SEC on May 15, 2023, urged the Third Circuit to deny Coinbase’s demand for an answer on the exchange’s …
The Accountants Weigh in: Savvy Businesses Can Successfully Navigate This Year’s Economic Stresses
In the past three years, seven U.S. banks failed. These include Silicon Valley Bank, Signature Bank and First Republic Bank …
FASB to Whittle Through Agenda ‘Fairly Quickly’ and Issue Consult Document Again Next Year, Chair Says
The FASB plans to complete most of the projects on its technical agenda in the next 18 months and may …
FASB Proposes Accounting Rules for Measuring, Presenting and Disclosing Crypto Assets
The FASB on March 23, 2023, issued a proposal to provide accounting and disclosure rules for certain types of crypto …
FASB Revises Rule Issuance Plans for First Quarter: Two New Accounting Standards, Two Proposals to Come
The FASB revised its first quarter plans and will now issue two new accounting standards and two proposals by the …
Testing Howey: With Congress Stalled, the SEC Stakes its Expanding Crypto Enforcement on a Nearly Eight-Decade-Old Test
The SEC under Chair Gary Gensler is ramping up its enforcement campaign against the cryptocurrency industry, making good on his …