FTX Fiasco Adds Wrinkle to Plan for Crypto Accounting Rules

US accounting rulemakers were already considering tackling the thorny issue of accounting for freshly minted crypto tokens in their prolonged effort to write guidance for digital assets.

Then came the collapse of crypto exchange FTX, and a new headache for accounting rulemakers.

While questions about FTX’s self-generated tokens and their real worth are just a part of the company’s financial puzzle, there’s a narrow area where the Financial Accounting Standards Board could bring clarity to the market.

The place: ensuring that businesses creating a crypto token don’t just assign it a value and report it on its balance sheet as ...