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The California Society of Certified Public Accountants has formally asked for clarification regarding cryptocurrency holdings. So reports Cointelegraph.
The organization reached out to the Financial Accounting Standards Board via letter, noting current accounting practices are not adequate, per the Standards Board. They should, instead, be closer aligned to accounting standards for those of foreign currencies.
The letter followed a similar request from 21 members of Congress who are seeking guidance from the IRS with respected to taxing the digital currencies.
Read the full article from Cointelegraph.
The Securities and Exchange Commission announced the concept of digital…
Online software vendor Kashoo is forming focus group to react…
Ripple CEO Brad Garlinghouse said cryptocurrency and blockchain stand to…
Representatives from the Reserve Bank of Australia said they are…