EFRAG Research project on Crypto-Assets
- Completed
- Completed
- Isabel Batista, Vincent Papa
Description
Objective of the EFRAG research project
Following the EFRAG 2018 Research Agenda consultation, the EFRAG Board approved the inclusion of a research project on crypto-assets in EFRAG's workplan.
The research project conducted from late 2018 through to 2020 consisted of a problem definition and development of proposals for developing or clarifying IFRS requirements. As part of the research, the EFRAG Secretariat conducted an outreach to crypto-assets experts in Q4 2019.
Discussion Paper and Feedback
A Discussion Paper (DP) “Accounting for crypto-assets (liabilities): holder and issuer perspective” was published in July 2020 and was open for a 12-month consultation period until 31 July 2021. The DP set out and sought stakeholder views on possible options for developing IFRS requirements. The DP also seeks feedback on the identified challenges related to accounting by holders and issuers and the valuation of crypto-assets.
Outreach on the DP occurred from Q4 2020 to July 2021 including presentations to the International Forum of Accounting Standard Setters (IFASS) in September 2020 and to the Accounting Standards Advisory Forum (ASAF) in December 2020, and a webinar involving preparers, users and auditors.
EFRAG published a Recommendations and Feedback statement on the DP in H1 2022.
Documents
Project news
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29/04/2022 - EFRAG's Recommendations and Feedback Statement on Accounting for Crypto-Assets (Liabilities)
The Recommendations and Feedback Statement summarises the main comments received by EFRAG on its Discussion Paper - Accounting for Crypto-Assets (Liabilities) (the 'EFRAG DP') and includes EFRAG's recommendations for developing IFRS requirements for crypto-assets (liabilities).
The Recommendations and Feedback Statement can be accessed here. -
14/07/2021 - Send your comments on EFRAG’s Discussion Paper: Accounting for crypto-assets (Liabilities)
EFRAG's Discussion Paper on Accounting for Crypto-Assets (Liabilities) (DP) - whose feedback will inform the ongoing IASB agenda consultation is open for consultation until 31 July 2021.
Stakeholders can provide feedback by either completing the survey (available here) or by sending a comment letter to the discussion paper.
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14/04/2021 - Accounting for Crypto-Assets (Liabilities): EFRAG Discussion Paper now discussed in podcasts
Crypto-assets represent a growing and rapidly evolving market. To address the accounting of these unique assets, EFRAG released a Discussion Paper Accounting for Crypto-Assets (Liabilities) (DP) addressing the main issues related to the topic. You can now listen to the EFRAG podcast series with three episodes in which EFRAG Secretariat and experts discuss the issues addressed in the DP and related topics.
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02/04/2021 - Complete EFRAG’s survey relating to its DP: Accounting for Crypto-Assets (Liabilities), contribute to the debate!
EFRAG invites its constituents to complete the survey (available here) relating to its Discussion Paper on Accounting for Crypto-Assets (Liabilities) (DP). Crypto-assets, a by-product of innovation in technology and finance (see background article), continue to draw stakeholders' interest. Accordingly, in July 2020, EFRAG published its DP - developed as part of the EFRAG proactive research agenda. The DP is intended to inform the forthcoming IASB agenda consultation process and is open for consultation until 31 July 2021.
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20/07/2020 - EFRAG's Discussion Paper on the accounting for crypto-assets (liabilities) - holder and issuer perspective
EFRAG has published a Discussion Paper to gather constituents' views on the accounting for crypto-assets (liabilities) from a holder and issuer perspective. Comments are welcome throughout a 12-month period from the date of issuance until 31 July 2021. Comments provided earlier during the consultation period will be welcome. The consultation period caters for constituents’ impacted priorities and any constraints faced due to the current pandemic. It also allows EFRAG sufficient time to obtain as much feedback as possible. -
04/09/2019 - Call for input from crypto-assets experts'
EFRAG is seeking input from crypto-assets experts' on its research project with the objective of identifying and proposing solutions for accounting challenges that are not addressed within existing IFRS Standards.
