Dr.Syeda Zubaida Hashmi, Arun Lal Thekkechira, Mr. Jaya Kumar Aswathaman


Developing accounting standards for cryptocurrencies presents a multifaceted challenge in the financial and regulatory landscape. Cryptocurrencies, with their diverse forms and uses, pose unique hurdles for traditional accounting practices. The challenges include determining fair valuation amidst extreme price volatility, accounting for complex ownership and control structures, ensuring robust security and custody procedures, defining appropriate recognition and measurement criteria, harmonizing with diverse global tax regulations, integrating blockchain technology, balancing transparency with privacy concerns, adapting to evolving regulatory environments, fostering international consistency, and equipping accounting professionals with specialized knowledge. Meeting these challenges requires ongoing collaboration among standard-setting bodies, regulators, and industry experts to create adaptable and relevant accounting standards in this dynamic space.

Keyword : #

Published in Issue
May 05, 2024
Abstract Views
PDF Downloads
Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.


[1] AbdulMajeed, M. (2022). Considerations of accounting standards that can be used to disclose Cryptographic assets in financial reports. DOI: 10.26389/ajsrp.d280622 [2] Abrahams, Temitayo Oluwaseun, Ewuga, Sarah Kuzankah, Kaggwa, Simon, Uwaoma, Prisca Ugomma, Hassan, Azeez Olanipekun, & Dawodu, Samuel Onimisi. (2024). Mastering Compliance: A Comprehensive Review of Regulatory Frameworks In Accounting And Cybersecurity. Computer Science & IT Research Journal, 5(1), pp.120- 140. DOI: 10.51594/csitrj.v5i1.709 [3] Arayesh, M., Rezaeirad, Mostafa, Aidi, Mohammad, & Ghobadi Lamoki, Tohfeh. (2021). Thematic analysis on a model of implementation of open and technological banking in commercial banks in Iran. DOI: 10.46925//RDLUZ.32.25 Grant Thornton Digital, Virtual and Cryptocurrencies: Issues and Accounting Risks Posted: 2016 Crossref S Nakamoto Bitcoin: A Peer-to-Peer Electronic Cash System Posted: 2009 D Procházka Accounting for Bitcoin and Other Cryptocurrencies under IFRS: A Comparison and Assessment Models"، (2018)، Vol International Journal of Digital Accounting Research , volume 18 Crossref Abdel-Fattah Mohamed Salah , Ahmed Bitcoin: an electronic cryptocurrency that may cause a new global economic crisis International Islamic Economics Journal , issue 3 Posted: 201