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Global Accountants Sit Out Crypto Rule Changes as US Proceeds

Sept. 30, 2022, 8:04 PM

Global accounting rulemakers are leery of tackling cryptocurrency accounting rules—and leapfrogging potential regulator action—with so few international companies holding cryptocurrency, International Accounting Standards Board members said Friday.

“The question of, ‘Has this become pervasive yet on a global scale?’ The answer, for our board, was not yet. But we are monitoring it, obviously,” IASB Chair Andreas Barckow said at a joint meeting in London with the US Financial Accounting Standards Board.

The international accounting board in April voted against adding to its active standard-setting agenda a project to consider new rules for digital assets and cryptocurrency. In contrast, ...