On December 31, according to The Wall Street Journal, the U.S. Accounting Standards Board (FASB) plans to explore in 2026 whether some stablecoins qualify as "cash equivalents" and 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, which promotes innovation in U.S. stablecoins.
Rich Jones, chairman of the U.S. Accounting Standards Board, stated that these crypto projects are on the agenda. Previously, the FASB required companies to use fair value accounting for crypto assets such as Ethereum and Bitcoin in 2023, but that rule excluded NFTs and certain stablecoins at the time.
