Square refers GAAP’s silence on Cryptos

Square refers GAAP’s silence on Cryptos

Square Inc. in its annual filing with the U.S. Securities and Exchange Commission stated that the Generally Accepted Accounting Principles (GAAP) does not detail about cryptocurrencies. The company cited that the arduousness in accounting gains and losses from cryptocurrency transactions. Square mentioned that their accounts are subject to scrutiny and any alterations would impact the stock price.

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