US Federal Accounting Standards Advisory Committee to Treat Seized Crypto as ‘Non-Monetary Property’

Odaily News The Federal Accounting Standards Advisory Board (FASAB) of the United States stated that seized crypto assets should be treated as "nonmonetary property", while central bank digital currencies (CBDCs) should be treated as monetary instruments. FASAB stated that cryptocurrencies "generally do not possess all the characteristics of currencies", emphasizing that they "cannot effectively serve as a unit of account, medium of exchange, or store of value." (Bitcoin.com)