Accounting for cryptocurrencies

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The IFRIC published various staff papers and, more recently, an agenda decision on matters relating to the accounting treatment of cryptocurrencies. These documents distinguish between holdings of cryptocurrencies and issuing crypto-assets in initial coin offerings (ICOs). While it appears that neither of the two is currently prevalent in entities that apply IFRS, this is an area where rapid developments may occur. This article briefly reviews some key aspects of these papers and the agenda decision.

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