Under ASC 350-60, eligible crypto assets are measured at fair value each reporting period, with all gains and losses recognized in earnings. For a crypto asset to fall under ASC 350-60, it must meet six conditions:It should meet the definition of an intangible asset. A common grey area is whether to capitalize or expense transaction costs (like "gas" fees) incurred to acquire crypto assets. In practice, the quality of crypto accounting depends less on the standard itself and more on the strength of internal policies, controls and documentation. In crypto accounting, judgment is not a weakness; it is an unavoidable and defining characteristic of the current framework.