Nicholas Cappiello of the FASB unpacks the rationale and impact of ASU 2023-08, which brings fair value accounting and enhanced disclosures to crypto assets under U.S. GAAP. He explains how the update streamlines reporting, reduces complexity, and aligns with common industry practices. Cappiello contrasts U.S. GAAP and IFRS approaches, addresses implementation feedback, and emphasizes the importance of stakeholder input through the June 30, 2025 agenda consultation. The session equips accounting professionals to navigate this evolving landscape with greater clarity and confidence.