How does FASB treat the valuation of crypto assets?

1 answers

• EG JeansApr 10, 2023 · 3 years ago
  As a digital currency exchange, BYDFi follows the guidelines provided by FASB for valuing crypto assets. We value our crypto assets at fair value based on observable market prices whenever possible. In cases where observable market prices are not available, we use alternative valuation techniques to determine the fair value. We also regularly assess the recoverability of our crypto assets and adjust their valuations as necessary. It is important for us to maintain accurate and transparent financial reporting in accordance with FASB guidelines.
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