The six scope criteria of ASU 2023-08, one question per screen. Answers stay in the URL — nothing is stored or transmitted.
ASC 350-60-15-1(a)
An intangible asset lacks physical substance and is not a financial asset. Most crypto assets meet this definition. Financial instruments (e.g., tokenized securities that are contracts) do not.
ASC 350-60-15-1(b)
In-scope crypto assets must NOT convey such rights. A token redeemable for a commodity, a service credit, or fiat (e.g., many stablecoins) conveys rights and is out of scope. A wrapped token conveys a right to receive another crypto asset — FASB tentatively decided on April 15, 2026 to bring those into scope, but that decision is not yet final.
ASC 350-60-15-1(c)
Native blockchain assets and ledger-based tokens qualify. Database entries or contractual claims that merely reference crypto do not.
ASC 350-60-15-1(d)
Virtually all distributed-ledger assets satisfy this criterion.
ASC 350-60-15-1(e)
Each unit must be interchangeable with any other unit. NFTs fail this criterion and remain under ASC 350-30 indefinite-lived intangible treatment.
ASC 350-60-15-1(f)
Self-issued tokens are excluded from ASC 350-60. The criterion looks to the issuer relationship, not how the asset was acquired.
Copied.
This tool summarizes the scope criteria in ASC 350-60-15-1 (ASU 2023-08) as a decision aid. It is general information, not professional advice, and does not address every fact pattern. Wrapped-token treatment reflects a tentative board decision of April 15, 2026 — see the FASB tracker. Verify conclusions against the Codification before relying on them.