Glossary
IAS 38
The IFRS standard for intangible assets, under which cryptocurrency holdings are generally accounted for outside of inventory.
An IFRS interpretive decision concluded that cryptocurrency is not a financial asset and is normally an intangible under IAS 38, or inventory under IAS 2 where held for sale in the ordinary course of business.
This is where IFRS and US GAAP now diverge sharply. IAS 38 permits cost less impairment, or revaluation through other comprehensive income where an active market exists — so a group reporting under both standards carries two different values and two different profit profiles for the same wallet.
Where this comes up
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