# ASC 350-60-15: Intangibles—Goodwill and Other — Crypto Assets — 15 Scope and Scope Exceptions

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/350/60/#15-scope-and-scope-exceptions)

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## ASC 350-60-15: 15 Scope and Scope Exceptions

[Read section](https://asc.understandingaccounting.org/asc/350/60/#15-scope-and-scope-exceptions)

SEC content: no

#### Overall Guidance

##### [350-60-15-1](https://asc.understandingaccounting.org/asc/350/60/#350-60-15-1)

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The guidance in this Subtopic applies to holdings of assets that meet all of the following criteria:

1.  a
    
    Meet the definition of [intangible assets](https://asc.understandingaccounting.org/glossary/i/#intangible-assets "Assets (not including financial assets) that lack physical substance. (The term intangible assets is used to refer to intangible assets other than goodwill.)") as defined in the Codification
    
2.  b
    
    Do not provide the asset holder with enforceable rights to or claims on underlying goods, services, or other assets
    
3.  c
    
    Are created or reside on a distributed ledger based on blockchain or similar technology
    
4.  d
    
    Are secured through cryptography
    
5.  e
    
    Are fungible
    
6.  f
    
    Are not created or issued by the reporting entity or its [related parties](https://asc.understandingaccounting.org/glossary/r/#related-parties "Related parties include: Affiliates of the entity Entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825-10-15, to be accounted for by the equity method by the investing entity Trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management Principal owners of the entity and members of their immediate families Management of the entity and members of their immediate families Other parties with which the entity may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests Other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.").

#### Entities

##### [350-60-15-2](https://asc.understandingaccounting.org/asc/350/60/#350-60-15-2)

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The guidance in this Subtopic applies to all entities that hold crypto assets.