Send your comments on EFRAG’s Discussion Paper: Accounting for crypto-assets (Liabilities)

​EFRAG invites stakeholders to respond to its Discussion Paper on Accounting for Crypto-Assets (Liabilities) (DP) by 31 July 2021. Respondents can either complete a related survey (available here) and/or send their comment letters to questions (pages 19 to 21 of the DP) that can be submitted to cryptoassets@efrag.org​. The completion of the survey should take approximately 15 minutes.​

The DP addresses​​ the full spectrum of crypto-assets (payment tokens, utility tokens, investment tokens, hybrid tokens and stable coins). The DP encompasses a problem definition by providing an analysis of the crypto-ecosystem (economic characteristics, rights and obligations, and regulatory regimes) and an in-depth analysis of the current gaps in accounting requirements for both holders and issuers of crypto-assets.

As a way forward, the DP proposes three possible approaches for addressing IFRS related requirements, namely:

  • do nothing with preparers relying on existing IFRS requirements;

  • update existing requirements, i.e., amend or clarify existing applicable requirements for holders and issuers; or

  • develop a new Standard with explicit requirements for the accounting for crypto-assets (liabilities) or a new standard with broader scope and including crypto-assets (liabilities).

EFRAG looks forward to receiving your feedback.


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