ChainCatcher message, Shen Yu shared on its social platform the important factors affecting MSTR (MicroStrategy) and BTC summarized by GPT for the coming months.Key time points:December 15, 2024: Cryptocurrency accounting rules take effect, MSTR meets profit requirements;December 20, 2024: S&P 500 index adjustment window, whether to include MSTR;December 23, 2024: If approved, it will be listed for trading;Next index adjustment window on March 21, 2025.

ChainCatcher news, according to CoinDesk, members of the U.S. Congress are attempting to overturn a controversial accounting announcement by the Securities and Exchange Commission (SEC) that imposes restrictions on companies wishing to hold customer crypto assets. Senator Cynthia Lummis (R-Wyo.) along with Representatives Wiley Nickel (D-N.C.) and Mike Flood (R-Neb.) introduced matching resolutions in the Senate and House on Thursday, formally opposing this accounting rule and asserting that it has no legal effect.It is reported that the SEC's 2022 Staff Accounting Bulletin No. 121 (SAB 121) stipulates that companies holding customer cryptocurrencies should account for them on their own balance sheets, which could force banks wishing to hold cryptocurrencies to maintain what they consider burdensome capital to offset risks.

ChainCatcher news, according to TheBlock, MicroStrategy supports a proposal by the Financial Accounting Standards Board (FASB) that would allow companies to use fair value accounting for cryptocurrencies held on their balance sheets.Under the current accounting rules known as the "indefinite-lived intangible asset accounting model," companies must use the original purchase price and then record cumulative impairment expenses. This means that the value of the Bitcoin held by MicroStrategy on its balance sheet is only $2 billion, which is half of its fair market value.The company stated, "According to the recommendations of the U.S. Financial Accounting Standards Board, reporting cryptocurrency holdings under a fair value model will enable us to provide investors with a more relevant view of our financial condition and the economic value of our Bitcoin holdings, which in turn will help investors make informed investment and capital allocation decisions." (source link)