U.S.-listed companies that provide custody of cryptocurrencies should account for those assets as liabilities and disclose the associated risk to investors, the Securities and Exchange Commission said Thursday. by KReyofCoindesk
Companies listed in the U.S. that act as custodians of cryptocurrencies on behalf of other companies should account for those assets as liabilities and disclose the risk associated with those assets to investors, the Securities and Exchange Commission said Thursday.
These risks can have a"significant impact" on the custodian's operations and financial conditions, the SEC guidance said. Because of this, the risks should be disclosed and the assets be accounted for at fair value and listed as a liability.
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