EFRAG publishes discussion paper on crypto-assets (liabilities)
20 Jul 2020
The European Financial Reporting Advisory Group (EFRAG) has published a discussion paper (DP) 'Accounting for Crypto-Assets (Liabilities): Holder and Issuer Perspective'. The DP provides possible approaches to address the gaps in crypto-assets (liabilities) requirements.
Specifically, the DP considers three possible approaches the IASB could take:
- No amendments to existing IFRS requirements.
- Amend and/or clarify existing IFRS requirements.
- A new Standard on crypto-assets (liabilities) or a broader category of digital assets (liabilities).
The DP and a press release are available on the EFRAG website. Comments are due by 31 July 2021.