Insights

Now that ASC 350-60 allows companies to measure crypto at fair value, the spotlight shifts to how clearly those assets are reported. Numbers on a balance sheet don't mean much if they're buried in vague categories or missing key context. That's where disclosures come in. For businesses holding crypto, they're a way to show investors, auditors, and internal leadership that your digital assets are being handled with structure, transparency, and care. Unified Global has worked with clients across industries to prepare crypto disclosures that meet audit scrutiny while providing decision-useful insight.

While ASC 350-60 brought long-awaited clarity for cryptocurrency accounting, it didn't cover everything. In particular, it left out non-fungible tokens, or NFTs. For businesses that hold NFTs as part of their crypto activity, this exclusion means going back to the old framework. And because NFTs operate very differently from fungible tokens like Bitcoin or Ethereum, the accounting treatment reflects that complexity.

Once treated as a speculative experiment, cryptocurrency is now firmly on the radar of CFOs, controllers, and strategy teams. Whether your business holds it on your balance sheet, accepts it as payment, or simply tracks it for competitive awareness, crypto is slowly becoming a crucial knowledge.

Before Unified Global had to follow ASC 350-60, companies holding cryptocurrency faced a frustrating problem: there was no specific accounting standard to guide them. Most businesses defaulted to treating crypto as an intangible asset under ASC 350, not because it made the most sense, but because it was the closest match.

Holding crypto on your balance sheet doesn't automatically mean you can report it under ASC 350-60. The new standard offers fair value treatment, but only for assets that meet a strict set of criteria. If they don't, they must follow the older, more limited accounting rules. Feel free to reach out to Unified Global for a clearer distinction between the two.