TechFlow news: Michael Saylor, founder of MicroStrategy, tweeted that the Financial Accounting Standards Board (FASB) will officially adopt fair value accounting for Bitcoin starting in fiscal years beginning after December 15, 2024. This upgrade in accounting standards is expected to encourage global enterprises to adopt Bitcoin as a reserve asset.
Previous report: The United States will introduce its first cryptocurrency accounting rule, allowing crypto companies and any other companies holding Bitcoin or Ethereum to record their cryptocurrency holdings at fair value, with changes in fair value recognized in net income.
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