Coinbase Proposes Projects for Improving U.S. Crypto Accounting

Coinbase said it proposed two projects for improvements to U.S. standards on accounting for crypto assets in its response to Financial Accounting Standards Board’s invitation to comment.

  • “We believe there is a pervasive need to improve the accounting for crypto assets,” Coinbase said in an open letter
  • Over the last year, the total crypto assets’ market capitalization grew more than 5x with a total market value over $2 trillion, as of Sept 15, it said
    • “More importantly, the innovation is just beginning. Now is the time to improve the accounting for crypto assets”

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