21. July 2020

EFRAG initiates public debate on accounting for crypto assets and liabilities

With the publication of a discussion paper, EFRAG is stimulating a public debate on the accounting for crypto assets and liabilities. The discussion paper addresses the ongoing evolution, growth potential and existing diversity of this new asset and liability category. The accounting treatment is examined from the perspective of both the holder and the issuer. With regard to the IFRS requirements, three alternative approaches are discussed: (1) no amendment to the existing IFRS requirements, (2) amendments and/or clarifications of existing IFRS requirements and (3) development of a new standard on crypto assets and liabilities or on a broader category of digital assets and liabilities.

The discussion paper and further information on this research project are available on EFRAG’s website. Due to the current situation resulting from COVID-19 and related priorities, the comment period is 12 months. Comments should arrive no later than 31 July 2021. Feedback received at an earlier date is encouraged.