Odaily Planet Daily News The U.S. Financial Accounting Standards Board (FASB) has proposed treating eligible stablecoins as "cash equivalents." According to the proposal, stablecoins that maintain liquid reserves, disclose reserve assets annually, and can be redeemed for U.S. dollars at a 1:1 ratio at any time would be grouped alongside Treasury bonds, commercial paper, and money market funds. FASB stated that the proposal aims to clarify how the existing definition of cash equivalents applies to specific digital assets. The proposal has not yet been finalized, with a public comment period ending November 19. FASB has been developing specialized accounting rules for crypto assets since 2023.