UNDERSTANDING CRYPTOCURRENCY AND ITS IMPLICATIONS FOR ACCOUNTING IN THE CASE OF EUROPE
Keywords:
Cryptocurrency, Accounting Standards, Crypto-assets, IFRS, Blockchain, Digital Economy, Financial Reporting, European Union, Regulatory Framework, AuditingAbstract
This article explores the nature and functioning of cryptocurrencies and their implications for accounting practices within the European context. As digital currencies become more integrated into financial systems, accounting professionals face challenges in classifying, measuring, and reporting crypto-assets. The study examines regulatory approaches in various European countries and evaluates how international accounting standards (such as IFRS) are being adapted to accommodate these new digital assets. Furthermore, it highlights the risks and opportunities cryptocurrencies present for businesses, regulators, and auditors, while proposing a set of recommendations for developing a consistent and transparent accounting framework for digital assets across Europe.
Downloads
References
Beck, Roman, Ciriello, Raffaele, Thatcher, Jason. (2018). The Paradoxical Effects of Blockchain Technology on Social Networking Practices. doi: https://core.ac.uk/download/186639323.pdf
Almeida, Luís (ed.), Azevedo, Graça (ed.), Marques, Pedro R (ed.), Vieira, et al.. (2023). Proceedings of the 4th International Conference in Accounting and Finance Innovation: new trends in accounting and finance. UA Editora, doi: https://core.ac.uk/download/610602154.pdf
Almeida, Luís (ed.), Azevedo, Graça (ed.), Marques, Pedro R (ed.), Vieira, et al.. (2023). Proceedings of the 4th International Conference in Accounting and Finance Innovation: new trends in accounting and finance. UA Editora, doi: https://core.ac.uk/download/610602154.pdf
Sfetcu, Nicolae. (2019). Philosophy of Blockchain Technology - Ontologies. doi: https://core.ac.uk/download/223236457.pdf
Foy, Jonathan. (2019). Financial Accounting Classification of Cryptocurrency. Scholars Crossing, doi: https://core.ac.uk/download/213463694.pdf
Sfetcu, Nicolae. (2019). Philosophy of Blockchain Technology - Ontologies. doi: https://core.ac.uk/download/223236457.pdf
Almeida, Luís (ed.), Azevedo, Graça (ed.), Marques, Pedro R (ed.), Vieira, et al.. (2023). Proceedings of the 4th International Conference in Accounting and Finance Innovation: new trends in accounting and finance. UA Editora, doi: https://core.ac.uk/download/610602154.pdf
Beck, Roman, Ciriello, Raffaele, Thatcher, Jason. (2018). The Paradoxical Effects of Blockchain Technology on Social Networking Practices. doi: https://core.ac.uk/download/186639323.pdf
Britchenko, Igor, Danshina, Yulya. (2017). Adaptation of domestic state governance to international governance models. doi: https://core.ac.uk/download/322492655.pdf
Britchenko, Igor, Danshina, Yulya. (2017). Net structure of subject-to-subject relations in the management of the system of administrative services provision. doi: https://core.ac.uk/download/322492656.pdf
Koohang A, Nord JH, Keng‐Ooi B, Wei G‐Tan H, Al M‐Emran, Aw EC-X, Abdullah M Baabdullah, et al.. (2023). Shaping the Metaverse into Reality: A Holistic Multidisciplinary Understanding of Opportunities, Challenges, and Avenues for Future Investigation. Journal of Computer Information Systems, Volume(63), 735-765, 735-765. doi: https://doi.org/10.1080/08874417.2023.2165197
Yogesh K Dwivedi, Hughes L, Abdullah M Baabdullah, Ribeiro S‐Navarrete, Giannakis M, Mutaz M Al‐Debei, Dennehy D, et al.. (2022). Metaverse beyond the hype: Multidisciplinary perspectives on emerging challenges, opportunities, and agenda for research, practice and policy. International Journal of Information Management, Volume(66), 102542-102542, 102542-102542. doi: https://doi.org/10.1016/j.ijinfomgt.2022.102542
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
