In this session, Jennifer Louis delivers a concise overview of the rapidly evolving world of cryptocurrency and digital assets. She explains how blockchain and distributed ledger technology work, examines debates over whether cryptocurrencies are securities, commodities, or other assets, and highlights recent SEC and FASB developments. Jennifer discusses key cases like FTX, issues of custodial control, and the growing use of proof of reserve reports. The session concludes with FASB's latest guidance on classifying, measuring, and disclosing digital assets, including fair value and impairment considerations. This course equips financial professionals to navigate digital asset reporting under U.S. GAAP with clarity and confidence.