FASB Holds April 15 Meeting

At its April 15, 2026, meeting, the FASB discussed its projects on (1) accounting for crypto asset transfers and (2) the classification of certain digital assets as cash equivalents and the related disclosure enhancements.

The Board began deliberating its project on this topic. Specifically, the Board decided to amend ASC 350-60 to:

• Include within its scope “crypto assets that provide the holder with a right to receive another crypto asset” (provided that certain criteria are met).
• Provide “an example of a tabular disclosure illustrating that wrapped tokens, if significant, would be disclosed separately from other significant crypto asset holdings.”

For more information, see the tentative Board decisions on the FASB’s Web site.

The Board began deliberating this project. Decisions made by the Board include those related to (1) adding illustrative examples clarifying certain concepts and (2) transition, transition disclosures, and early adoption. In addition, the Board decided that the expected benefits of a standard related to this project would outweigh the costs.

The FASB staff has been directed to draft a proposed ASU related to this project for a vote by written ballot. For more information, see the tentative Board decisions on the FASB’s Web site.