This report, the Regulation of Cryptocurrency Around the World, surveys the legal and policy landscape surrounding cryptocurrencies around the world. The report covers 130 countries as well as some regional organizations that have issued laws or policies on the subject. Over the past four years, cryptocurrencies have become ubiquitous, prompting more national and regional authorities to grapple with their regulation. The resulting availability of a broader set of information regarding how various jurisdictions are handling the fast-growing cryptocurrency market makes it possible to identify emerging patterns, some of which are discussed in the report. The country surveys are also organized regionally to allow for region-specific comparisons.
A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. There are a number of publications dealing with the accounting and financial reporting issues that arise with respect to cryptocurrencies.
Some of the publications that may be of assistance, in no particular order, are:
- Introduction to accounting for cryptocurrencies under IFRS – CPA Canada
- Accounting for Crypto-assets – E & Y
- Cryptographic assets and related transactions: accounting considerations under IFRS – PwC
- Thinking Allowed Cryptocurrency: Financial reporting implications – Deloitte
- Holdings of cryptocurrencies – E & Y