Bloomberg Tax
Sept. 23, 2021, 8:45 AM

Investors, in the Dark on Crypto, Join Push for Accounting Rules

Nicola M. White
Nicola M. White

It isn’t just companies and accountants frustrated about the lack of rules on how to account for investments in cryptocurrency.

Investors and analysts are in the dark about the value of the Bitcoin, Ethereum, and other digital currencies companies hold, and even whether they hold them at all. That may change.

U.S. generally accepted accounting principles, or GAAP, offer no rules for reporting the value of digital assets. Nonbinding guidance from the American Institute of CPAs says companies should classify the currency as intangible assets. This means businesses that don’t qualify as investment firms record cryptocurrency at historical cost on ...

Learn more about Bloomberg Tax or Log In to keep reading:

Learn About Bloomberg Tax

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools.