Crypto Accounting Plan’s First Challenge: What’s In, What’s Out

Five years and several hundred requests later, US accounting rulemakers are ready to start writing rules for digital assets—just as the market reels from a crypto winter.

All of cryptocurrency’s wild swings would get captured by rules the Financial Accounting Standards Board is considering. But most significantly, assuming the market recovers, company financial statements would get to reflect crypto price rebounds, not just downturns as under current reporting.

It would be a long-awaited change for the crypto industry, accountants, and investors who complain about the current practice, where companies that hold cryptocurrencies like Bitcoin or Ether only get to report ...