Bloomberg Tax
May 19, 2022, 8:45 AM

Crypto Accounting Guidance Delivers Mixed Bag of Hope, Questions

Amanda Iacone
Amanda Iacone

Robinhood Markets Inc. could potentially double its balance sheet when it begins reporting $20 billion of crypto assets held by its platform users on financial statements this summer.

That balance sheet surge for Robinhood and other big crypto players like Coinbase Global Inc. is tied to Securities and Exchange Commission guidance issued in March whichgives companies their first concrete instructions on how to account for the volatile value of cryptocurrencies.

The new staff guidance—which addresses certain digital assets held by platform customers—is drawing some heavy criticism that the SEC excluded the industry and companies from the process, leaving important, unresolved ...

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