The Federal Accounting Requirements Advisory Board (FASAB) has clarified that seized crypto belongings ought to be handled as “nonmonetary property” whereas central financial institution digital currencies (CBDCs) ought to be handled as financial devices. The federal authority claims that cryptocurrencies “don’t usually possess all financial traits,” emphasizing that they “are usually not efficient as a unit of account, […]
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US Government to Report Seized Crypto as ‘Nonmonetary Property’ – Regulation Bitcoin News
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