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.