FASB Passes Long-Awaited Fair Value Accounting For Crypto
Starting in 2025, companies holding crypto can record their unrealized gains in their quarterly statements, alongside their losses.
Cryptocurrency regulations have been a hot topic of debate among the community ever since digital assets came into existence.
The debate circles whether legislation on cryptocurrencies will carry positive or negative outcomes for the crypto ecosystem.
Some believe that cryptocurrencies such as Bitcoin should operate on their own, without any regulatory oversight. This comes from one of their predominant and perhaps most essential features – decentralization, or the lack of central authorities. This would put the power entirely in the hands of network participants.
However, and on the other hand, there are a lot who believe that proper and well-defined regulations are a critical step towards mass adoption.
In reality, the tendency seems to be favoring the latter group. The well-known and reputable cryptocurrency companies and exchanges are doing their best to abide by the law in order to deliver further security and to avoid regulatory scrutiny.
This is especially the case in the fields of Know-Your-Customer (KYC) and Anti Money-Laundering (AML) regulations. These are welcomed with mixed feelings by the crypto community because they strip away one of the landmark feats of most cryptocurrencies – privacy.
Starting in 2025, companies holding crypto can record their unrealized gains in their quarterly statements, alongside their losses.
G20 members are working on developing a comprehensive global cryptocurrency framework.Â
The law is expected to go live from September 1.
The crypto lending platform pleaded guilty to ASIC’s charges, and the regulator considered the plea during sentencing.
Singapore has seized over $736M worth of properties, cash, and assets including crypto, in one of its major money laundering
Disparte called for relevant federal legislation around stablecoins to protect consumers and prevent investors from companies with fake USD.
The SEC is seeking to appeal the Ripple ruling, while applications for a Bitcoin ETF are piling up. It seems
Stablecoins that meet all the criteria set by Singapore's central bank will be labeled as MAS-regulated stablecoins.
"We are indeed continuing to hire and grow the business as we continue to expand," a Revolut spokesperson purportedly said.
The authorization will allow Binance to provide crypto products and services "tailored" to the needs of Salvadoran customers.