According to a report by Foresight News and the Wall Street Journal, the U.S. Accounting Standards Board (FASB) plans to explore in 2026 whether certain stablecoins qualify as "cash equivalents" and to study how to account for transfers of crypto assets, including wrapped tokens. This move comes against the backdrop of the Trump administration's push for crypto policies and the passage of the Genius Act.
FASB Chairman Rich Jones stated that the agency has put these crypto projects on its agenda. Previously, in 2023, the FASB required companies to use fair value accounting for crypto assets such as Ethereum and Bitcoin, but that rule at the time excluded NFTs and certain stablecoins.
