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本期向大家推送加拿大特许会计师协会最新发布的一项研究，关于数字加密货币会计核算的探讨文章，具体如下：

An Introduction to Accounting for Cryptocurrencies

Background

The word “cryptocurrencies” is often used as a blanket term for all cryptoassets. For the purposes of this paper, we use the term cryptocurrencies to mean only those cryptocurrencies that are used as a medium of exchange and intended to act as an alternative to government-issued fat currencies. Our focus is on only this specifc subset of crypto-assets. These cryptocurrencies are without physical substance and generally not linked to any currency, or backed by any government, central bank, legal entity, underlying asset or commodity. For example, Bitcoin would be considered such a cryptocurrency while tokens that do not function as a general-purpose medium of exchange would not.

Holdings of cryptocurrencies allow individuals and businesses to transact directly with each other without an intermediary such as a bank or other fnancial institution. These cryptocurrency transactions rely on a key technology called blockchain technology. For an introduction to blockchain technology, refer to the CPA Canada publication Technological Disruption of Capital Markets and Reporting?: An Introduction to Blockchain.

The rapid rise and volatility of cryptocurrencies have led to increased global interest and scrutiny by organizations, investors, regulators, governments, and others. Interested parties are concerned about the accounting and tax implications associated with cryptocurrencies.

During 2017, the market capitalization of cryptocurrencies increased by US$547 billion or 3,038%.1 The most popular and widely used cryptocurrency is Bitcoin; however, there are over 1,500 cryptocurrencies in circulation. Each of these cryptocurrencies has its own unique features and characteristics which makes understanding and accounting for them particularly challenging.

Cryptocurrency offerings such as “initial coin offerings” and “initial token offerings” are gaining traction in the global fnancial markets with over US$5 billion raised to date as of December 31, 2017.3 Securities regulators have raised concerns related to such offerings because of issues around volatility, transparency, valuation, custody and liquidity, as well as the use of unregulated cryptocurrency exchanges.4 There is also a fundamental concern about whether these offerings constitute an offering of securities.

Scope

This publication addresses the accounting for holdings of cryptocurrencies acquired from third parties. The accounting by entities which mine cryptocurrency or undertake initial coin or token offerings is not addressed in this paper. Furthermore, some entities may hold cryptocurrency as an intermediary or as an agent and these circumstances are not addressed in this paper.

This publication includes:

• a brief overview explaining what cryptocurrencies are
• a discussion of possible approaches to accounting for cryptocurrencies under existing IFRS
• an update on accounting standard-setting activity related to cryptocurrencies
• a brief summary of the tax implications of transactions involving cryptocurrencies
• supplemental guidance on determining fair value for cryptocurrencies

Table of Contents

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