How should the holdings of cryptocurrency be measured initially and subsequently under U.S. GAAP and IFRS Standards?

Explain your answer examining both the initial and subsequent measurement for both the cryptocurrency used for transactions and the cryptocurrency held for investments. Justify your answer by citing the appropriate guidance you obtained in Unit 1. Examine both GAAP and the IFRS Standards.

3. On October 12, 2022, FASB issued new guidance. Explain.