What is the scope of a crypto asset?

The complexity lies not only in the assessment of the asset's value but also in determining its relevance and applicability within the scope of a particular standard.

Cryptocurrency assets typically undergo trading activities on numerous exchanges, each maintaining its unique market dynamics.

This variety in exchanges can result in certain crypto assets, within the scope of a given standard, experiencing limited or even non-existent trading activity in active markets.

The process of identifying the primary market for a crypto asset and accurately calculating its fair value can become quite intricate.

The Accounting Standards Update (ASU) often has a rather narrow scope when considering the vast and ever-evolving landscape of cryptocurrencies.