FASB Proposes Treating Stablecoins as Cash Equivalents in US Accounting

This is an accounting-classification question with real balance-sheet consequences: calling stablecoins cash equivalents affects liquidity ratios, disclosure and how conservatively treasuries treat them. The significance is less about any single issuer than about removing a reporting friction that has kept some corporate holders on the sidelines. The open question is whether the proposal survives comment and where FASB draws the line between genuinely cash-like tokens and those with redemption or reserve risk, since that boundary determines which holdings qualify.