# ASC 350-60-05: Intangibles—Goodwill and Other — Crypto Assets — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/350/60/#05-overview-and-background)

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## ASC 350-60-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/350/60/#05-overview-and-background)

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##### [350-60-05-1](https://asc.understandingaccounting.org/asc/350/60/#350-60-05-1)

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This Subtopic provides guidance on the subsequent measurement, presentation, and disclosure of crypto assets that are within the scope of this Subtopic.

##### [350-60-05-2](https://asc.understandingaccounting.org/asc/350/60/#350-60-05-2)

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This Subtopic does not address the initial measurement, recognition, and derecognition of crypto assets. Reporting entities shall account for the initial measurement, recognition, and derecognition of crypto assets in accordance with other generally accepted accounting principles (GAAP).