The Federal Accounting Standards Advisory Board (FASAB) has clarified that seized crypto assets should be treated as “nonmonetary property” while central bank digital currencies (CBDCs) should be treated as monetary instruments. The federal authority claims that cryptocurrencies “do not typically possess all monetary characteristics,” emphasizing that they “are not effective as a unit of account, […]
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Mark Uyeda, who served as acting chair of the US Securities and Exchange Commission (SEC) before Paul Atkins’s confirmation, said the agency dropped civil cases against cryptocurrency companies...
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