What are the differences between US GAAP and IFRS in the context of digital currencies?

1 answers

• Mar 30, 2022 · 3 years ago
  At BYDFi, we follow the guidelines set by IFRS when it comes to accounting for digital currencies. This means that we classify digital currencies as either intangible assets or financial assets, depending on their nature. We also measure them at fair value. This approach ensures transparency and consistency in our financial reporting, and it aligns with international standards. As the digital currency market continues to evolve, it's important for companies and organizations to stay updated with the latest accounting standards and guidelines to accurately reflect the value of digital currencies in their financial statements.
  632316