US Government to Report Seized Crypto as ‘Nonmonetary Property’



The Federal Accounting Criteria Advisory Board (FASAB) has clarified that seized crypto property must be treated as &#8220nonmonetary home&#8221 although central lender digital currencies (CBDCs) should really be addressed as financial instruments. The federal authority claims that cryptocurrencies &#8220do not normally possess all monetary qualities,&#8221 emphasizing that they &#8220are not productive as a unit of account, […]



Source

Recommended For You

About the Author: wp4crypto