Cryptographic assets, including cryptocurrencies such as Bitcoin, have generated a significant amount of interest recently given their rapid increases in value and volatility. As activity in cryptographic assets has increased, it has attracted regulatory scrutiny across multiple jurisdictions.
As there are no accounting standards that specifically address cryptographic assets, questions have arisen on how to recognise, measure and disclose activities associated with the issuance of, and investment in, the various types of cryptographic assets.
In this publication, we highlight some of the accounting questions that are currently being debated and share our views on how IFRS could be applied, including:
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