On June 2, 2023, Texas Governor Greg Abbott signed into state law HB 591, which provides a severance tax exemption for natural gas produced from certain wells that would otherwise be lawfully vented or flared. Gas produced from a qualifying well must be consumed within 1,000 feet to qualify for…

The Financial Accounting Standards Board recently made a tentative board decision to require companies to disclose crypto assets on financial statements separately from other intangible assets. The decision is part of the FASB’s move to increase financial transparency related to cryptocurrency…

Like any other type of business in any other type of industry, cryptocurrency organizations should proactively monitor their business operations processes, effectiveness of corporate governance, and internal controls in their accounting processes.

In light of recent events in the digital…

On January 3, 2023, U.S. banking regulatory agencies (including the Federal Reserve, FDIC and OCC) released their first-ever joint statement on crypto-asset risks to banking organizations. Prepared after a year of “significant volatility and the exposure of vulnerabilities in the crypto-asset…

The Financial Accounting Standards Board (FASB) voted to require companies to use fair value accounting for crypto assets. The tentative decision addresses an increasing need for guidance on how businesses should account for crypto assets, and the eventual Accounting Standards Update issued…