U.S. accounting standard-setters plan to reopen key crypto questions in 2026, setting up changes that could reshape how companies report stablecoins and complex token movements. The move comes as Washington signals broader support for regulated digital assets, even as standard-setters stress their independence.
Stablecoins Face Cash-Equivalent Test
The Financial Accounting Standards Board said it will study whether some stablecoins can qualify as “cash equivalents” under U.S. GAAP. Today, most stablecoins sit outside that definition, forcing companies to classify them as other assets rather than cash-like holdings.
Under existing rules, cash equivalents must be highly liquid, convert quickly to known amounts of cash, and carry minimal risk of value changes. FASB plans to assess whether certain fiat-backed stablecoins meet those thresholds in practice, including reserve quality, redemption terms, and operational reliability.
If adopted, a cash-equivalent classification could change balance sheets and cash-flow statements for firms that rely on stablecoins for payments, treasury operations, or settlement. It would also set clearer guardrails on what does not qualify, limiting aggressive interpretations by issuers or holders.
Transfers, Wrapped Tokens Also Under Review
FASB will also examine how companies account for crypto transfers that do not resemble simple sends, including wrapped tokens that represent assets bridged across blockchains. Current guidance leaves gaps on recognition, derecognition, and disclosure for these transactions.
The board added both crypto topics to its technical agenda late in 2025, with research and outreach scheduled to begin next year. Any rule changes would follow FASB’s standard process, including public comment and redeliberation, before becoming authoritative guidance.
The timing overlaps with a renewed U.S. policy push that favors clearer crypto rules. While FASB does not set policy, the backdrop includes calls from political leaders, including Donald Trump, to accelerate stablecoin frameworks and encourage domestic crypto activity. FASB officials have emphasized that the board’s decisions rest on investor protection, comparability, and faithful representation, not politics.
FASB’s 2026 work builds on its 2023 update that moved many crypto assets onto fair-value measurement while leaving stablecoins and NFTs largely untouched. By returning to stablecoins and transfer mechanics, the board aims to close reporting gaps that have grown as corporate crypto use expands.
