Michael Saylor welcomes FASB vote to review crypto accounting standards By Cointelegraph

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Michael Saylor welcomes FASB vote to review crypto accounting standards

proponent and MicroStrategy CEO Michael Saylor has welcomed the U.S. Financial Accounting Standards Board (FASB) vote to review accounting rules for digital assets and commodities.

As it stands under current FASB guidelines — which is the source of authoritative Generally Accepted Accounting Principles (GAAP) — companies must report digital assets such as BTC as “intangible assets” on their balance sheets.

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