ChainCatcher news, according to Bloomberg, the Financial Accounting Standards Board (FASB) has approved new rules that allow companies to report their cryptocurrency holdings at fair market value. The rules will be released by the end of 2023 and will take effect in 2025, but businesses can adopt these rules early; moreover, wrapped tokens are not subject to the new rules.Professionals analyze that fair value will encourage institutions to hold cryptocurrencies. Many large Web3 companies, such as MicroStrategy and Bitfinex, hold Bitcoin on their balance sheets. Berenberg Capital stated in a report that the new rules could "eliminate the adverse effects of impairment losses under the current FASB rules."