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FASB Plans to Explore Including Some Stablecoins as 'Cash Equivalents' by 2026
Summary: According to reports from The Wall Street Journal, the Financial Accounting Standards Board (FASB) plans to explore in 2026 whether some stablecoins qualify as 'cash equivalents' and how to account for cryptocurrency transfers (including Wrapped Tokens). This move comes amidst the Trump administration's push for crypto policies and the passage of the Genius Act. FASB ...
According to reports from The Wall Street Journal, the Financial Accounting Standards Board (FASB) plans to explore in 2026 whether some stablecoins qualify as 'cash equivalents' and how to account for cryptocurrency transfers (including Wrapped Tokens). This move comes amidst the Trump administration's push for crypto policies and the passage of the Genius Act. FASB Chairman Rich Jones stated that the organization has added these crypto projects to its agenda. Previously, FASB required companies to account for cryptocurrencies like Ethereum and Bitcoin at fair value in 2023, but excluded NFTs and certain stablecoins at that time.
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Link: FASB Plans to Explore Including Some Stablecoins as 'Cash Equivalents' by 2026 [Copy]
