Quantcast

Consob and Bank of Italy issue crypto-asset accounting guidelines

7 Central Banks, including the Banque de France, are starting to explore tokenization to secure monetary exchanges
A European FinTech Hub Prepares to Get Tough on Crypto Companies
Crypto: Market Poised For Positive Second Quarter, Coinbase Says
Bank of England, FCA target autumn 2024 as earliest starting date for first UK Digital Securities Sandbox cohort
Binance breaks silence on Nigerian crisis by insisting detained exec has ‘no decision-making power’
Binance announces the listing of the Wormhole (W) token
D-7 before Paris Blockchain Week – What to expect?
Cryptocurrencies In Paris: Poubelle Coin And $ratp Invade The 2024 Olympics
Report by Bitget Reveals 1.5 Million Daily Active Crypto Traders in Western Europe
Global crypto funds rebound with nearly $900 million in net inflows last week
Stablecoin delistings in Europe spell change for crypto exchanges, issuers
Demystifying EU crypto legislation, insights from former Icelandic Central Bank chairman
Binance slammed with $35m money-laundering charge in Nigeria
Binance Introduces Ethena (ENA) as 50th Launchpool Project
FTX founder Sam Bankman-Fried sentenced to 25 years in prison
EU Markets Watchdog Steps Closer to Finalizing Rules Under MiCA
Global crypto funds saw record net outflows of nearly $1 billion last week
Binance Labs invests in StakeStone as it continues to bet big on restaking sector
Patrick Hansen Clarifies EU Regulation Misinformation: No Ban on Self-Hosted Wallets – News Bytes Bitcoin News
EU Clamps Down on Crypto Anonymity to Fight Money Laundering 
JPMorgan Warns of Further Bitcoin Decline Despite Recent Correction
Europe's Crypto Embrace Slowed, Watchdog Faces Resource Crunch
Greens’ push to end German cryptocurrency tax exemption sparks debate
French Energy Giant EDF Subsidiary Becomes Chiliz Blockchain Validator
N26 Launches New Cryptocurrency Trading Product, N26 Crypto
French Energy Giant EDF Subsidiary Becomes Validator on Chiliz Chain – Blockchain Adoption Rising?
Rise in crypto fund launches predicted as digital gains “acceptance”
EU threatens US hegemony of stablecoins and $140 billion market
Giggle Academy: Changpeng Zhao (CZ) presents his new entrepreneurial project
Crypto: France becomes one of the leaders in adoption!
Consob and Bank of Italy issue crypto-asset accounting guidelines
Web3/Crypto
Webp savona
Paolo Savona, president of Consob | Consob

The Commissione Nazionale per le Società e la Borsa (Consob) has announced a joint communication with the Bank of Italy regarding guidelines for accounting, market transparency, and auditing of crypto-assets in financial statements. This announcement was made in a press release on March 6.

According to Consob and the Bank of Italy, the communication is directed at publicly traded companies, audit firms, and statutory auditors. It emphasizes the need for clear financial disclosures concerning crypto-assets. While no new requirements are introduced, companies are encouraged to provide transparency on how these assets impact their financial position and performance. This includes considering associated risks such as price volatility, regulatory uncertainty, and potential exposure to fraud or illicit activities.

The communication aligns with International Financial Reporting Standards Interpretations Committee (IFRS IC) guidelines. It states that cryptocurrencies should be accounted for under International Accounting Standard (IAS) 38 as intangible assets unless held for sale, in which case IAS 2 applies. For other types of crypto-assets, issuers must assess their nature to determine appropriate accounting treatment. Full disclosure in financial statements is required while complying with market abuse regulations. Companies are also urged to highlight any significant changes in the valuation of their holdings due to rapid fluctuations in the crypto market.

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

Audit firms and statutory auditors are advised to consider the unique risks associated with crypto-assets. These include volatility, an evolving regulatory landscape, and challenges in valuation and verification. Special attention is required for compliance with anti-money laundering laws and ensuring the accuracy of financial reports for companies involved in crypto transactions. This is particularly relevant for those engaging in decentralized finance (DeFi) or using digital assets for cross-border transactions.

Consob serves as Italy’s financial market regulator, responsible for ensuring transparency and proper conduct among financial operators to protect the integrity of the financial system and safeguard investors. It monitors compliance with financial regulations, prevents misconduct, and takes action when necessary. Consob ensures that investors have access to accurate information for informed investment decisions while promoting the efficiency of financial trading.

More News

Brad Garlinghouse, CEO of Ripple, said that the company enables global financial institutions to enhance cross-border payments and efficiency through digital technology.

Jul 9, 2025

Changpeng Zhao, founder of Binance, said that a move for Fannie Mae and Freddie Mac to count bitcoin as a mortgage asset signals a shift in the American Dream.

Jul 7, 2025

Binance has announced the launch of PIXEL APR Boost Airdrop Rewards for the 11th project on BNSOL Super Stake, in collaboration with Pixels (PIXEL), a web3 game on the Ronin Network.

Jul 7, 2025

Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), said that public companies increased their bitcoin holdings more rapidly than exchange-traded funds (ETFs) in the second quarter.

Jul 5, 2025

CoinFlip, a global digital currency platform, has announced the launch of a new user interface for its CoinFlip Preferred service.

Jun 30, 2025

Gum Shoe, a crypto influencer, has highlighted the long wait times and high fees at Coinbase compared to better service at Binance as evidence of the need for increased competition among U.S. crypto exchanges.

Jun 23, 2025