Objective o​​​f 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 Disc​​​ussion 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.