FASB to consider adding crypto transfer accounting to its agenda

The U.S. Financial Accounting Standards Board (FASB) will discuss whether to add accounting standards for cryptocurrency transfers to its formal technical agenda, Bloomberg reported. The review will include a potential expansion of the board's 2023 accounting rule. It will also cover criteria for when and under what conditions a company should derecognize a crypto asset from its books following a transfer. This move follows the recent addition of a separate project on the accounting classification of stablecoins to the FASB's agenda.