February 26, 2020, 7:33AM EST
• 2 min read
Why is MoneyGram recognizing Ripple's payments as a contra expense?
- MoneyGram changes the accounting method for recognizing the fees paid by Ripple for its usage of RippleNet
- Instead of recognizing it as revenue, MoneyGram now states it as a contra expense as per guidance from the SEC
- When asked by an analyst why the SEC would suggest such a change, CFO Lawrence Angelililli responded by saying, “To be honest, we’re still scratching our heads about it too.”