In a groundbreaking move, US accounting standard-setters have unanimously voted to introduce new accounting rules for businesses with significant holdings in cryptocurrencies such as Bitcoin and Ethereum. This decision, expected to be published by year-end, could pave the way for tech giants like Apple, Amazon, and Google to include Bitcoin and altcoins on their balance sheets as early as 2024.

New Paradigm In Bitcoin And Crypto Accounting

Under the rules, expected to be published by the end of the year, companies will be mandated to report their cryptocurrency holdings at “fair value.” This measurement seeks to present the most recent value of an asset, even accounting for rebounds in value after potential price drops. This is a significant shift from the current practice, which many …