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Accounting for cryptocurrencies under FRS 102

The purpose of this technical helpsheet is to consider both the potential accounting treatments under FRS 102 and the presentation of cryptocurrencies within the financial statements. It should be noted that this is an emerging area and practice will no doubt evolve over time.

Issued: September 2018
Last reviewed: September 2018

Currently neither IFRS nor UK GAAP make specific reference to the accounting for cryptocurrencies (which are a subset of cryptoassets) which include Bitcoin, Ethereum and Ripple as well as a range of new cryptocurrencies being released at a rapid rate. The purpose of this helpsheet is to consider both the potential accounting treatments under FRS 102 and the presentation of cryptocurrencies within the financial statements. It should be noted that this is an emerging area and practice will no doubt evolve over time.