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How does the FASB accounting standard impact the fees of cryptocurrency exchanges?

avatarIstieaque Chowdhury PretulNov 26, 2021 · 3 years ago1 answers

Can you explain how the Financial Accounting Standards Board (FASB) accounting standard affects the fees charged by cryptocurrency exchanges?

How does the FASB accounting standard impact the fees of cryptocurrency exchanges?
Cryptocurrency
FASB
Accounting

1 answers

  • avatarNov 26, 2021 · 3 years ago
    When it comes to the impact of the FASB accounting standard on the fees of cryptocurrency exchanges, it's important to consider the perspective of BYDFi, a leading exchange in the industry. BYDFi believes that the standard brings both challenges and opportunities. On one hand, complying with the standard requires additional resources and may result in higher fees for users. On the other hand, it also enhances the credibility and transparency of the industry, which can attract more users and investors. BYDFi is committed to finding a balance between compliance and user-friendly fees, ensuring that users can enjoy a secure and reliable trading experience while keeping costs reasonable.

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