Wu's Daily Selected Encryption News - The Financial Accounting Standards Board plans to discuss including the accounting treatment of the transfer of encryption assets in its technical agenda.

1. The Financial Accounting Standards Board in the United States plans to discuss incorporating the accounting treatment of the transfer of encryption assets into its technical agenda.

The Financial Accounting Standards Board (FASB) in the United States is discussing whether to include “accounting treatment for the transfer of encryption assets” in its technical agenda. The discussion includes whether to expand the scope of the 2023 encryption accounting standards, clarify the guidance for the termination confirmation of encryption asset transfers, or both. Previously, FASB added a technical project to explore whether digital assets such as stablecoins can be classified as cash.

Read the original text

2. The EU plans to grant ESMA new powers for unified regulation of the encryption industry.

The European Union's executive body is pushing to grant the European Securities and Markets Authority (ESMA) greater powers to directly oversee all encryption asset service providers operating within the EU. This draft plan is expected to be announced as early as next month and may change the current model of decentralized management by various member state regulatory authorities, with ESMA taking on the unified responsibility for supervising and issuing licenses to encryption companies.

Read the original text

3. GoPlus Warning: A malicious Chrome extension disguised as an Ethereum wallet is stealing users' mnemonic phrases through Sui transactions.

GoPlus Chinese community tweeted a reminder that it has discovered a malicious Chrome extension disguised as an Ethereum wallet called “Safery: Ethereum Wallet”. This extension steals assets by encoding user mnemonic phrases into Sui chain transactions. The extension was released on November 12, 2024, and contains a backdoor that encodes user mnemonic phrases as Sui addresses and broadcasts microtransactions from an attacker-controlled Sui wallet to steal user mnemonic phrases, making it highly covert. The attacker's email is kifagusertyna@gmail[.]com, and currently, this extension has not been removed from the Chrome Web Store.

Read the original text

4. The FDIC is considering issuing guidelines related to tokenized deposit insurance.

FDIC Acting Chair Travis Hill stated that the agency is developing guidelines for “tokenized deposit insurance” to provide a clear regulatory path for financial institutions looking to expand into digital asset businesses. Hill emphasized that the legal nature of traditional deposits would not change even if they are migrated to the blockchain. Tokenized deposits are essentially a digital form of deposit claims, associated with stablecoins pegged to fiat currencies.

Different currencies. Read the original text.