The 2023 U.S. GAAP taxonomy reflects updates as a result of accounting standards and
other improvements. The 2023 SEC taxonomy “contains improvements for SEC Staff
Accounting Bulletin (SAB) No. 121 on obligations to safeguard crypto assets that an
entity holds for platform users and modified documentation labels to identify the
substance and intended application of the elements.” The 2023 XBRL DQC taxonomy includes
seven new DQCRs.
The taxonomies are subject to final SEC approval, which is expected to be granted in
early 2023. For more information, see the press
release on the FASB’s Web site.