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Until now, there was no unified accounting approach for crypto assets in the legislation — companies relied on the State Revenue Service's guidelines or other recommendations. Now, the approach has been clarified and incorporated into the legal framework.

The regulation has been supplemented with a new Section 10.1 "Presentation of Crypto Assets in Accounting and Financial Statements." It clearly defines the terms "crypto asset," "e-money token," and "asset-referenced token" in accordance with the EU Regulation 2023/1114 on Markets in Crypto Assets. Depending on the type of crypto asset, the specific accounting treatment is defined.

Key accounting principles:

• Asset-referenced tokens and crypto assets that are not classified as e-money tokens must be recorded under current assets, within inventories, creating a separate sub-item.
• E-money tokens must be presented under the cash item, with a separate sub-item "E-money tokens."
• The annual report must include information on the accounting policy used for crypto assets, the types of assets held, and their impact on financial indicators.
• As of the balance sheet date, crypto assets must be measured at the lower of acquisition cost or market value.

Comment from an LP Consulting professional:

These amendments are a step towards greater transparency and clarity in crypto asset accounting. As digital assets become more prevalent in business operations, it is crucial to account for them according to unified principles. From an accountant's perspective, this provides a clear structure and reduces the scope for interpretations, which is especially important when preparing financial statements or communicating with auditors and tax authorities.

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