How IFRS Handles Digital Currencies: Accounting Perspectives for the Modern Enterprise
Cryptocurrencies like Bitcoin have no dedicated IFRS standard, so companies use
existing rules by analogy. In 2019, the IFRS Interpretations Committee (IFRIC) ruled
that because crypto is not government-issued legal tender or a contractual financial
claim, it does not qualify as cash or a financial instrument. Thus, companies account for
crypto as intangible assets (IAS 38) by default, or as inventory (IAS 2) only if held for
sale in the ordinary course of business. This IFRIC agenda decision (June 2019)
effectively meant crypto must be treated as an IAS 38 intangible asset unless a firm
trades it like a commodity broker (in which case IAS 2 applies).
13 October 2025