Abstract
We examine the perspectives of Brazilian accounting professors on the accounting treatment of cryptocurrencies. Experts have established a moderate consensus among the situations examined for the circumstances in which an entity buys cryptocurrencies for itself and in cases where an entity produces cryptocurrencies (mining). In such circumstances, the initial recognition should be a financial instrument, and the initial and subsequent measurement should be at fair value. This understanding differs from the prevailing literature, which states that cryptocurrencies cannot be recognized as a financial instrument. There are also disagreements about the initial and subsequent measurements. As a result, the accounting regulatory framework must be updated so that cryptocurrencies can be recognized, measured, and disclosed more reliably.
orcid.org/0000-0002-4897-8353