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IFRS® Accounting Standards

Crypto-asset Activities

Summary

Given the growth of institutional participation, the continued maturity of the crypto ecosystem, and recent cessation of several entities involved in crypto-asset activities around the world, the Accounting Standards Board (AcSB) has decided to undertake research associated with the accounting for and disclosure of crypto-asset activities.

Canadian stakeholders have also expressed concerns regarding gaps in the current accounting. Their concerns also extend to the potential that these gaps may increase as the crypto-asset ecosystem further evolves and the number of unaddressed crypto-asset related accounting issues in current IFRS® Accounting Standards grows.

The AcSB’s objective is to incite dialogue, educate, and influence international accounting standard setting on this topic.

Staff Contact(s)

Jayshal Rajendra Daya, CPA, CA Principal, Accounting Standards Board

Matthew Bishop, CPA, CA Principal, Accounting Standards Board

Project Status

  • Information gathering

    The AcSB is conducting research to help it further develop its understanding of cryto-asset activities in Canada and around the world

    The AcSB expects to release a series of thought leadership white papers that will explore several of the most prevalent crypto-asset holdings and other crypto-asset activities throughout 2023

  • Approving project
  • Consulting stakeholders
  • Deliberating feedback
  • Final pronouncement
Disclaimer

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal ballot process.