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