IFRS 9: Cryptocurrencies – International Accounting Standards Board

Date recorded:

At its meeting on November 14, 2018, the IASB met to consider information provided by the IFRS Interpretations Committee (Committee) about how an entity might apply existing IFRS Standards to account for holdings of cryptocurrencies and initial coin offerings. The Board also considered the Committee’s advice on whether standard-setting is necessary for holdings of cryptocurrencies. The Board decided not to add to its work plan a project on holdings of cryptocurrencies or initial coin offerings at this time. Instead, the Board decided to monitor the development of cryptoassets and decided to ask the Committee to consider publishing an agenda decision that would explain how entities apply existing IFRS Standards to holdings of cryptocurrencies. The Committee will consider the Board’s request at a future Committee meeting.

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