ESG: Regulations Summary

The 2023 GAAP Financial Reporting Taxonomy and the 2023 SEC Reporting Taxonomy have been accepted by the U.S. Securities and Exchange Commission (SEC), according to the Financial Accounting Standards Board (FASB).

By requiring an organisation to measure certain cryptoassets at fair value for each reporting period and to record changes in fair value in net income, the proposed guidelines will enhance the accounting for these assets. The proposed changes would compel a business to give expanded disclosures for both annual and interim reporting periods, giving investors pertinent information to examine and assess the exposure and risk of substantial individual holdings in cryptoassets.