In July 2018, the International Accounting Standards Board (IASB) considered how an entity might apply existing International Financial Reporting Standards (IFRS) standards in accounting for cryptocurrencies; whether new standards are required; and whether this should this be a priority for the IASB.

While the IASB determined that cryptocurrency does not directly fall within the existing definition of a financial asset and that developing a new standard should be a priority, as yet no absolute guidance has been provided on how to account for cryptocurrency.

There are various options available within the current classification of assets.