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The US to develop a bitcoin accounting

The US Financial Accounting Standards Board (FASB) has started discussing the necessity of developing an accounting standard for digital assets, Reuters reports.

The Digital Chamber of Commerce (Washington) has turned to FASB claiming that there’s a need for cryptocurrency in the country to have an accounting standard. The public organization protects rights of the cryptocurrency community in the US.

According to Perianne Boring, founder of the Chamber and one of the most famous representatives of the bitcoin industry, the absence of financial standards creates serious barriers for implementing technologies. This is a source of difficulties for entrepreneurs who would like to use the cryptocurrency as a payment means.

Ultimately, problems with the cryptocurrency accounting can “restrain economic growth of the US”, thinks the expert.

There’s a high possibility that FASB will develop bitcoin standards, although there was no announcement regarding plans for their development. As reported previously, bitcoin isn’t considered a legal payment means on the territory of the USA but is equated to standard goods such as oil and gold and may be taxed.

December 7, 2017

InterContinental Malta

St George`S Bay, St Julians

Malta will become the hub of the fintech industry in Europe!

Three intensive conference sections:

• Blockchain solutions in practice

• ICO trends

• Panel discussion: Legal and Regulatory Challenges in Blockchain

Our participants are entrepreneurs and experts in legislation, blockchain developers, investors, startup founders, bitcoin enthusiasts, financial specialists and bankers, lawyers, representatives of payment systems.


Why you should attend:


• 20 Top-notch Speakers and many industry experts;

• extensive business program of the Conference;

• 3 intensive conference sections;

• best well-known Sponsors;

• more than 16 outstanding Exhibitors​​​​​​



We will be glad to see everyone at Blockchain & Bitcoin Conference Malta 2017!