The Financial Accounting Standards Board (FASB) has unanimously approved new guidelines for accounting and disclosing cryptocurrencies like Bitcoin. These regulations will come into effect in 2025, in an effort to improve transparency for investors and others who rely on financial statements. The new rules will require digital assets to be logged at their current market value, allowing gains and losses to be part of the income statement. Companies will also be required to disclose details such as the cost basis of significant crypto holdings, any sale restrictions, and how crypto assets changed from the start to the end of a financial period.Breaking: Arkham has identified the Grayscale Bitcoin Trust’s holdings on chain. It is the 2nd largest BTC entity globally, holding >$16B of BTC. Though Grayscale publicly reports balances, they have refused to disclose the exact amount of Bitcoin they hold.The new standards are mandatory for both public and private companies, effective for fiscal years beginning after December 15, 2024. Early adoption is also an option. The transition is not expected to be burdensome since current voluntary reporting systems already have the necessary infrastructure. The move from FASB follows increasing demands from investors, especially as major firms like Tesla, MicroStrategy, and Block (formerly Square) have been stockpiling Bitcoin.Crypto enthusiasts have also praised the move. “This is undeniably good for Bitcoin,” tweeted Swan Bitcoin, while financial analyst Stack Macro noted, “Most public corporations couldn’t stack Bitcoin without this rule change. Now cash-rich companies have a way to insure their bond portfolios against debasement.” Michael Saylor, co-founder and executive chairman of MicroStrategy, celebrated the change, saying, “Fair value accounting is coming to Bitcoin. This upgrade to FASB accounting rules eliminates a major impediment to corporate adoption of $BTC as a treasury asset.”

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Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	9
People	Marsha Hunt, Christine Botosan, Richard Jones, Susan Cosper, Michael Saylor
Companies	MicroStrategy, BeInCrypto, OpenSea, Bitcoinist, Grayscale Bitcoin Trust., U.S. Securities and Exchange Commission, Swan Bitcoin, Arkham, Block (formerly Square), Tesla, Ethereum, Financial Accounting Standards Board (FASB), Bitcoin, Stack Macro, Yahoo Finance
Currencies	US Dollar, Stablecoin, metamask, Euro, APENFT, Ethereum, Bitcoin
Securities	None