In the past, crypto assets were treated as indefinite-lived intangible assets, subject only to impairment and not marked to market. However, with the issuance of FASB ASU 2023-08, certain digital assets are now allowed to be reported at fair value.
What is a Statement of Digital Assets? Bridging onchain holdings with US GAAP
- Aggregation of Digital Assets
- LOCOM and Fair Market Value Valuation
- Holistic Treasury Insights
- Customizable Wallet Role Assignment
SoDA Development History
• SoDA started as best practice to provide clarity to US GAAP reporting of onchain holdings
• Additional applications include VC reporting, crypto audit, crypto tax, public disclosures & regulatory
• 2023 Best practice ‘white paper’ released as a public benefit collaboration with contributions from finance leaders at a16z, Delphi Ventures, OP Labs & Messari
• 2024 SoDA Symposium held in San Francisco featuring presentations by partners at Deloitte, EY, a16z & OP Labs
• Actively eliciting endorsements for SoDA as a best practice at www.sodafinance.xyz
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