Our ‘IFRS Viewpoint’ series provides insights from our global IFRS team on applying IFRS Accounting Standards in challenging situations. Each edition will focus on an area where the Standards have proved difficult to apply or lack guidance. This 
edition provides guidance on some of the basic issues encountered in accounting for cryptocurrencies, focusing on the accounting for the holder. 

Cryptocurrencies have become increasingly popular, but they do not fit neatly into the IFRS Accounting framework. To address this issue, Grant Thornton Vietnam presents the “IFRS Viewpoint: Accounting for Cryptocurrencies – The Basics”, providing an overview of how cryptocurrencies should be treated under IFRS Accounting Standards.

Some highlights from the article included:

  • Cryptocurrency is digital money secured by cryptography that runs on a decentralised blockchain, enabling direct, efficient, and low-cost transactions without intermediaries.
  • Cryptocurrencies are not financial assets as they are neither cash nor equity instruments, provide no contractual right to receive cash or another financial asset, and have been confirmed by IFRIC as not qualifying as financial instruments.
  • Cryptocurrency holdings are non-monetary items under IAS 21 with required disclosures under IAS 2, IAS 38, and related standards, while mining activities pose additional accounting and revenue challenges.

We hope this publication provides your business with valuable insights into applying International Financial Reporting Standards (IFRS) to cryptocurrencies, helping enhance transparency, consistency, and compliance in financial reporting.

IFRS Example Interim Consolidated Financial Statements 2025

IFRS Example Interim Consolidated Financial Statements 2025

The Interim Financial Statements have been reviewed and updated to reflect changes in IAS 34 and other IFRS Accounting Standards that are effective for the year ending 31 December 2025 that have been issued prior to 31 March 2025.

Download PDF