The Financial Accounting Standards Board (FASB) released an Accounting Standards Update (ASU) on Wednesday, aimed at enhancing the accounting and disclosure practices for certain crypto assets. This update, a response to widespread stakeholder feedback, is set to significantly alter how companies report their cryptocurrency holdings. FASB Chair Richard R. Jones emphasized the importance of this update, stating, “The new standard responds to feedback from stakeholders of all backgrounds who indicated that improving the accounting for and disclosure of crypto assets should be a top priority for …