Staff Accounting Bulletin 121 noted the high technological, legal and regulatory risks associated with the custody of crypto-assets, relative to traditional assets. Those risks impact the operations and financial condition of companies such as Coinbase (NASDAQ:COIN), PayPal (NASDAQ:PYPL) and Robinhood (NASDAQ:HOOD), which safeguard users’ crypto-assets and allow the users to trade them on their platforms. For this reason, companies are advised to list their users’ assets on their books as liabilities as well as assets at their fair value at initial recognition.
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Source: Cryptocurrency - investing.com