As FASB ASC 350-60 does not address the accounting for tokens on issuer’s books, I wanted to briefly point out on the guidance that applies to token development costs for issuers:
“Costs of internally developing, maintaining, or restoring intangible assets that are not specifically identifiable, that have indeterminate lives, or that are inherent in a continuing business or nonprofit activity and related to an entity as a whole, shall be recognized as an expense when incurred.”
[FASB ASC 350-30-25-3]
This means that unless the token has determinate useful life, the related costs should never be capitalized by the issuer that follow US GAAP requirements.
