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Big 4 fill gap in GAAP on accounting for digital currency

Tammy Whitehouse | July 17, 2018

Digital currencies proliferate, and companies are beginning to dabble in doing business there, but accounting guidance provides no explicit direction in how to reflect those activities in financial statements.

Plenty of regulators are buzzing with activity to determine how and in what manner to regulate the mushrooming market for digital currencies, but the Financial Accounting Standards Board has not yet opened a project to consider any rulemaking. The board has assigned some staff members to perform research that might help inform the board on what, if...

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