FASB did not name specific crypto assets that would be excluded from the rule. But it said the digital assets addressed by the rule would include those that are intangible, don’t carry contractual rights to cash flows or ownership of goods and services, and those that are fungible, according to the Journal. NFTs are by their very nature non-fungible and may carry rights to underlying assets, while some stablecoins are tangible assets.
Credit: Source link