Proposed U.S. accounting rules change: Stablecoins may qualify as “cash equivalents.”
Tempo, a blockchain project backed by Stripe, recently published a report noting that an accounting standards update proposed by the FASB (Financial Accounting Standards Board) in August could remove a major obstacle to corporate adoption of stablecoins:
1. Current situation: Even if fully backed by U.S. dollars, stablecoins may not count toward a company’s cash reserves on its financial statements, affecting liquidity ratios and loan covenants.
2. Proposal: Eligible stablecoins could be classified as cash equivalents, removing accounting friction when companies use stablecoins to settle payments.
3. The key requirement: What matters is not the token itself, but whether the company has a direct redemption right with the issuer. Buying USDC on an exchange may not meet the criteria for cash equivalents.
4. Timeline: Public comments are being accepted until November 19; the GENIUS Act passed in July 2025 and takes effect in January 2027; the market capitalization of U.S. dollar stablecoins has already exceeded $300 billion.
My take: The barriers to stablecoin adoption have never been just technology and regulation—they also include financial reporting. Once stablecoins can be formally listed under “cash” on the balance sheet, corporate treasury departments will have an incentive to use them at scale.
#稳定币 #FASB
Personal opinions only; this is not investment advice.
Tempo, a blockchain project backed by Stripe, recently published a report noting that an accounting standards update proposed by the FASB (Financial Accounting Standards Board) in August could remove a major obstacle to corporate adoption of stablecoins:
1. Current situation: Even if fully backed by U.S. dollars, stablecoins may not count toward a company’s cash reserves on its financial statements, affecting liquidity ratios and loan covenants.
2. Proposal: Eligible stablecoins could be classified as cash equivalents, removing accounting friction when companies use stablecoins to settle payments.
3. The key requirement: What matters is not the token itself, but whether the company has a direct redemption right with the issuer. Buying USDC on an exchange may not meet the criteria for cash equivalents.
4. Timeline: Public comments are being accepted until November 19; the GENIUS Act passed in July 2025 and takes effect in January 2027; the market capitalization of U.S. dollar stablecoins has already exceeded $300 billion.
My take: The barriers to stablecoin adoption have never been just technology and regulation—they also include financial reporting. Once stablecoins can be formally listed under “cash” on the balance sheet, corporate treasury departments will have an incentive to use them at scale.
#稳定币 #FASB
Personal opinions only; this is not investment advice.