SEC, FASB advance separate crypto proposals as Clarity Act stalls - CFO Dive

While comprehensive crypto legislation remains stalled in Congress, two separate regulatory tracks are moving forward. The SEC is advancing its own rulemaking efforts concerning digital assets, while the FASB continues work on accounting standards for crypto holdings. The Clarity Act, which aimed to provide a unified statutory framework distinguishing securities from commodities, appears to be at an impasse on Capitol Hill.

This divergence means market participants must prepare for a patchwork of guidance rather than a single legislative solution. For public companies holding digital assets, FASB’s proposed fair-value accounting treatment would replace the current cost-impairment model, potentially making balance sheets more volatile but also more transparent. Meanwhile, SEC actions will shape which tokens are considered securities and therefore subject to registration and disclosure requirements.

The practical takeaway for CFOs and investors is to monitor each agency’s timeline separately. With the Clarity Act stalled, the SEC and FASB become the de facto standard-setters, at least in the near term. The key question is not whether regulation arrives, but how much fragmentation will persist until lawmakers act. Watch for specific FASB exposure drafts and SEC rule release dates as the next milestones.