Digital asset use cases and offerings continue to evolve and proliferate, but there remains only limited US GAAP that explicitly addresses the accounting for digital assets. We provide our perspectives on accounting for crypto intangible assets (a subset of all digital assets) by commercial and not-for-profit entities and summarize the guidance that applies to them.
The issues and considerations we identify are not exhaustive, and our views and observations may not reflect the only acceptable ones in practice in this evolving area. Our perspectives may change as practice continues to develop, if the FASB expands or amends its US GAAP guidance on the accounting for crypto intangible assets, or if the SEC staff expresses views.
We encourage entities to discuss their accounting for crypto intangible assets (and other digital assets) and their specific facts and circumstances with their auditors or other accounting advisors.
