US Accounting Standards Board to consider the development of new standards for digital currency accounting


nnnAccording to Reuters, the US Financial Accounting Standards Board (FASB) is considering whether to develop new accounting standards for digital money. It is reported that the agency will be based on the requirements of the Digital Chamber of Commerce in Washington DC (CDC) to assess whether the process should be carried out. At present, a number of global accounting standards organizations have begun to develop new frameworks, including the Australian Accounting Standards Board.n
nnTranslation: Clovern
nAccording to reports, the United States to develop financial accounting standards – the US Financial Accounting Standards Board (FASB), is considering whether to take new initiatives on digital money.n
nAccording to Reuters, FASB, which sets accounting standards for publicly traded US companies, has yet to decide whether to develop new guidelines for companies that carry out special currency and other money-related businesses. However, the nonprofit seems to be assessing whether the process should be carried out in accordance with the requirements of the Digital Chamber of Commerce in Washington DC (CDC), a company that conducts business in the areas of digital money and block chains And trade organizations organized by the group.n
nCDC founder and president Perianne Boring in the June 8 letter to the board said that the lack of standards is in fact for investors and entrepreneurs to create obstacles:n
nn”The lack of digital monetary accounting standards is a major challenge for companies that want to invest in this exciting technology frontier and participate in innovation, and will hamper US economic growth.”n
nnIf the FASB does decide to take steps to develop new guidelines, the FASB will not fight alone, and the world’s accounting standards-making organizations have begun to develop new frameworks. Including the Australian Accounting Standards Board, in November last year called for the global digital currency to develop new accounting standards.n
nIn addition, accounting firms, including PricewaterhouseCoopers, Deloitte and Ernst u0026 Young, set up a new alliance last year to promote the development of new standards for digital money. CDC has also proposed the formation of digital money accounting alliance.n

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