What are some examples of ASC 820 disclosure in the cryptocurrency industry?

3 answers

• Nov 28, 2021 · 3 years ago
  Sure! ASC 820, also known as the Fair Value Measurement standard, requires cryptocurrency companies to disclose the fair value of their digital assets. This includes providing information on the valuation techniques used, significant inputs, and any changes in valuation methods. These disclosures are important as they provide transparency and help investors understand the financial health of the company.
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• Nov 28, 2021 · 3 years ago
  ASC 820 disclosure in the cryptocurrency industry can also involve providing information on the level of hierarchy used to determine the fair value of digital assets. This means categorizing the valuation inputs into three levels: Level 1 - quoted prices in active markets, Level 2 - observable inputs other than quoted prices, and Level 3 - unobservable inputs. By disclosing the level of hierarchy, companies show the reliability of their fair value measurements.
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• Nov 28, 2021 · 3 years ago
  As a representative from BYDFi, I can tell you that ASC 820 disclosure requirements play a crucial role in the cryptocurrency industry. They ensure that companies accurately report the value of their digital assets, promoting transparency and investor confidence. BYDFi is committed to complying with these requirements and providing clear and comprehensive disclosures to our users.
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