Cryptographic assets and related transactions: accounting considerations under IFRS

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:

  • how to measure and present holdings of crypto assets
  • how issuers should record initial coin offerings (ICOs) and token generating events within their accounts, and
  • some of the challenges associated with fair value for crypto assets

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Regina Fikkers

National Leader, Accounting and Regulatory, Sydney, PwC Australia

Tel: +61 459 559 218

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IFRS Communications, PwC Australia

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