Both open FASB digital-asset projects, tracked meeting by meeting: what the Board has decided, what is tentative, and what comes next. Updated after every board action.
What changed · April 15, 2026
Board reaches tentative decisions on both digital-asset projects
At its April 15, 2026 meeting, the FASB tentatively decided to add illustrative examples to Topic 230 clarifying when stablecoins meet the cash-equivalent definition, and unanimously agreed to expand the scope of ASC 350-60 to crypto assets that convey an enforceable right to receive an in-scope crypto asset (wrapped tokens). A proposed ASU with a 90-day public comment period is the next expected milestone for both projects.
Addresses whether and when stablecoins qualify as cash equivalents under the existing ASC 230 definition, through illustrative examples and enhanced cash-equivalent disclosures. FASB project page →
At its April 15, 2026 meeting, the FASB tentatively decided to move forward with a proposed ASU adding illustrative examples to Topic 230 (Statement of Cash Flows) that explain when a stablecoin meets the existing definition of a cash equivalent, by linking the analysis back to that definition rather than creating a new category. The tentative criteria highlighted in the examples: the issuer maintains reserves composed of high-quality assets that are readily convertible to cash, maintained on at least a one-to-one basis with tokens outstanding, and the holder has a direct on-demand redemption right with the issuer. The Board also recommended annual incremental disclosures for all cash equivalents — dollar amounts disclosed by significant class of cash equivalent for each annual period presented, in the style of IAS 7 — applying to all entities, not only stablecoin holders. These decisions are tentative and subject to change until a final ASU is issued.
ASC 230-10-20ASC 230-10-50
At its October 29, 2025 meeting, the FASB added a project to its technical agenda addressing whether certain digital assets — principally fiat-backed stablecoins — may be classified as cash equivalents in the statement of cash flows. Rather than reaching conclusions, the Board discussed three possible approaches to the classification question and directed the staff to perform additional research and outreach before further deliberations. The project responds to the growth of corporate stablecoin holdings and to diversity in views about whether such holdings can meet the existing cash-equivalent definition in ASC 230-10-20.
ASC 230-10-20
FASB project pageDeloitte Heads Up (Oct 31, 2025) Permalink & share →
Addresses wrapped and receipt tokens — crypto assets conveying a right to receive another crypto asset — and derecognition guidance for crypto transfer arrangements. FASB project page →
At its April 15, 2026 meeting, the FASB unanimously agreed to expand the scope of ASC 350-60 to crypto assets that provide the holder with enforceable rights to receive another crypto asset that is itself within the scope of ASC 350-60 — capturing wrapped tokens and receipt tokens. Under the tentative decision, in-scope wrapped tokens would be measured at fair value like other ASC 350-60 assets, and, if significant, disclosed separately from other significant crypto asset holdings in the tabular disclosure. Derecognition guidance for crypto transfer arrangements remains under deliberation and will be addressed at a future meeting. These decisions are tentative and subject to change until a final ASU is issued.
ASC 350-60-15-1ASC 350-60-50-1
At its November 19, 2025 meeting, the FASB added a project to its technical agenda on the accounting for transfers of crypto assets. The project has two workstreams: (1) potentially revising the scope criterion in ASC 350-60-15-1 so that crypto assets providing the holder with a right to receive another crypto asset — wrapped tokens and receipt tokens — can qualify for ASC 350-60 fair value accounting; and (2) clarifying derecognition guidance for crypto transfer arrangements, assessing whether control of a crypto asset has been transferred. The Board directed the staff to research a principles-based approach leveraging existing Topic 606 control guidance and repurchase-agreement provisions before considering other alternatives.
ASC 350-60-15-1ASC 606-10-25
FASB project pageDeloitte Heads Up (Nov 20, 2025)CFO Dive Permalink & share →
Comment letters. Comment letters will be tracked here when the proposed ASU is issued and the 90-day comment period opens. The 90-day comment window on the proposed ASU will be the single most important opportunity for preparers to shape the final guidance.
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