Seeing the FASB include stablecoins in its 2026 work plan excites me. This is not just an accounting issue; it reflects the broader process of the financial system re-establishing the legitimacy of crypto assets.

Imagine what it means when stablecoins are officially recognized as "cash equivalents." Companies can legitimately list USDC, USDT on their balance sheets, and institutional investors can accept them with greater confidence. This is like Web3 moving from the underground into the sunlight, from being "non-mainstream" to becoming a "mainstream financial infrastructure" milestone.

But honestly, there are still many gray areas. For example, "when should asset recognition be terminated," how to define cross-chain tokens, how to value NFTs—these issues seem technical but actually directly impact whether investors can truly understand a company's crypto asset situation. Just like analyzing financial statements before buying stocks, the logic of the financial reports must be clear and transparent; otherwise, risks are hidden.

After the 《Genius Act》 takes effect in 2027, the volatility of stablecoins will decrease, and market demand will heat up—that's certain. The follow-up of accounting standards is like laying an institutional foundation for this grand feast. Asset tokenization is no longer an idealistic vision but a reality gradually integrating into the traditional financial system.

This is the direction I am optimistic about—not disruption, but integration.