How does ASC 820 disclosure apply to cryptocurrency investments?

3 answers

• Jan 14, 2022 · 3 years ago
  ASC 820, also known as the Fair Value Measurements and Disclosures standard, applies to all investments, including cryptocurrency. It requires entities to disclose the fair value of their investments, including any changes in fair value. When it comes to cryptocurrency investments, entities need to determine the fair value based on observable market data, such as trading prices on exchanges. The disclosure should include information about the valuation techniques used, the level of the fair value hierarchy, and any significant inputs or assumptions. It's important for entities to stay up to date with the latest guidance and interpretations related to cryptocurrency investments under ASC 820 to ensure accurate and transparent disclosure.
  746373
• Jan 14, 2022 · 3 years ago
  ASC 820 disclosure for cryptocurrency investments can be a complex topic. Entities need to carefully consider the specific characteristics of cryptocurrencies, such as their volatility and lack of regulation, when determining the fair value. Additionally, they should be aware of any specific guidance or interpretations provided by regulatory bodies, such as the SEC, regarding the disclosure of cryptocurrency investments. It's crucial for entities to have robust internal controls and processes in place to accurately measure and disclose the fair value of their cryptocurrency investments in accordance with ASC 820.
  620207
• Jan 14, 2022 · 3 years ago
  As a leading digital currency exchange, BYDFi understands the importance of ASC 820 disclosure for cryptocurrency investments. We ensure that our platform provides transparent and accurate pricing information for all listed cryptocurrencies. Our team closely follows the latest guidance and interpretations related to ASC 820 to ensure that our users have access to reliable fair value measurements for their cryptocurrency investments. We also encourage our users to consult with their own accounting and legal professionals to understand the specific disclosure requirements under ASC 820 for their individual circumstances.
  626157