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Susie Violet
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Bitcoin Journalist
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Susie 2 years ago
On Wednesday, 10 January 2024 the U.S. Securities and Exchange Commission approved a bitcoin spot ETF, allowing institutional players like BlackRock to offer products listed on stock exchanges directly backed one-to-one by bitcoin. In the very same week, the U.K. imposed stringent regulations that significantly restricted the purchase of bitcoin. My latest Forbes article. @fnew https://www.forbes.com/sites/digital-assets/2024/01/11/uk-undermines-crypto-hub-vision-as-us-approved-bitcoin-spot-etf-approval/
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Susie 2 years ago
The recent update ASU 2023-08 by the Financial Accounting Standards Board revolutionises fair value accounting for certain digital assets like bitcoin. This significant change enhances transparency and relevance in financial reporting by moving from the cost less impairment model to fair value measurement. Providing a more accurate reflection of a company's financial health and the performance of its bitcoin holdings, this shift is particularly beneficial for companies with significant bitcoin assets like MicroStrategy and Tesla. It simplifies balance sheet reporting and ensures alignment with the asset's true market value. My latest piece in Forbes. https://www.forbes.com/sites/digital-assets/2023/12/20/new-fasb-rule-supercharges-bitcoin-asset-integration-in-corporate-finance/