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United States citizens holding cryptocurrency face a new obligation that demands awareness to avoid potential serious consequences.
The Financial Accounting Standards Board (FASB) introduced new rules requiring companies to measure their crypto assets at fair value.
This measurement technique, capturing the most up-to-date value of digital currencies like Bitcoin and Ethereum, aims to provide a more accurate reflection of their worth. The rules, effective from 2025, allow companies the option of earlier adoption.
Meanwhile, in April 2023, BeInCrypto reported that nearly all crypto investors avoided paying tax in 2022.
