On August 18, FASB published a proposed Accounting Standards Update clarifying when a dollar-pegged token meets the existing definition of cash equivalents.
Accounting classification does more work here than regulation does. Once a treasurer can hold something without it landing in a weird bucket on the balance sheet, the internal argument gets a lot shorter.
This is huge
Accounting classification does more work here than regulation does. Once a treasurer can hold something without it landing in a weird bucket on the balance sheet, the internal argument gets a lot shorter.