This week’s decision marks a big step toward providing an answer and a “quick fix” to the relatively narrow fair value question that stakeholders have been clamoring for. Many stakeholders have been critical of the current accounting practice, which
generally treats cryptocurrency as an intangible asset rather than allowing it to be held at fair value.
That means under that system a firm that holds bitcoin or another digital asset that goes down in value reflects that drop in its reports but does not do the same if the value rises.