The existing approach, accounting for crypto as so-called indefinite-lived intangible assets, focuses only on the assets dropping in value. According to the board’s proposal, it “does not reflect the underlying economics of those assets and does not provide decision-useful information.”
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New York Assembly introduces crypto payments bill for fines, taxes
A bill introduced to the New York State Assembly on Jan. 26 would allow state agencies to accept cryptocurrency as a form of payment...