Fair market value of crypto currency

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Fair value accounting - Finance \u0026 Capital Markets - Khan Academy
Here's how to determine the fair market value of a currency that has appreciated faster than the shares of even the hottest technology stocks. is often considered its fair market value. This value is typically denominated in U.S. dollars or another fiat currency (which in turn can be converted into USD), providing a clear, quantifiable value for tax purposes. Today, the Financial Accounting Standards Board (FASB) announced new rules that will require companies to account for cryptocurrencies like.

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If I sell, exchange, or otherwise dispose of some units of that virtual currency, can I choose which units are deemed sold, exchanged, or otherwise disposed of? IAS 2 defines inventories as assets:. However, the decrease shall be recognised in other comprehensive income to the extent of any credit balance in the revaluation surplus in respect of that asset. It appears that cryptocurrencies should be considered as having an indefinite life for the purposes of IAS