The Financial Accounting Standards Board (FASB) has introduced new rules for accounting cryptocurrencies at fair value.

The new rules aim to improve transparency and accuracy in financial reporting by disclosing the value of cryptocurrencies based on market prices.

Despite cryptocurrency volatility, these changes are expected to offer investors more accurate information and foster trust in the industry.

The adoption of these rules could lead to significant gains for companies and facilitate including Bitcoin in their balance sheets.

The announcement initially caused a decline in Bitcoin price, but ultimately resulted in a 3.7% increase in value.