An Introduction to The Development of Accounting Guidelines for Cryptocurrencies (Experimental Study)

Cryptocurrency is a form of decentralized digital money that exists only electronically and transcends international borders, due to its innovative characteristics and its growing popularity in the economic and technological worlds, Bitcoin and other digital “currencies” are expected to become dominant, leading to the need for processing its accounting. There are no guidelines on how to process cryptocurrency transactions. The aim of this research is to define a conceptual approach to accounting for encrypted digital currencies, and to benefit from new theories. Qualitative analysis is applied where relevant studies are analyzed to determine the main characteristics of cryptocurrencies and to identify issues of accounting policy. The characteristics of encrypted digital currencies and the issues of accounting policy constitute the main questions in the questionnaire being analyzed. The analysis is carried out using the statistical program Stata and statistics to clarify the relationship between the characteristics of cryptocurrencies and the issues of accounting policy that are identified. Where the study found that the accounting policy recommended by cryptocurrencies is to recognize and measure the fair value