This article examines the classification, measurement, and financial reporting of crypto-assets in the context of the differences between the International Financial Reporting Standards (IFRS), the US GAAP, and the emerging Ukrainian tax regime. The study substantiates that, under IFRS, cryptocurrency is generally classified as either a non-monetary intangible asset under IAS 38 or as inventory under IAS 2, depending on the purpose of holding. This creates asymmetric recognition of value changes and reduces the comparability of financial statements. The paper analyzes the implications of ASU 2023-08, which introduces a dedicated accounting model requiring eligible crypto-assets to be measured at fair value, with changes recognized in net income. The findings reveal an unprecedented divergence between IFRS and US GAAP in the formation of financial results from crypto-assets: IFRS preserves conservative measurement alternatives, whereas US GAAP emphasizes current fair value and recognizes both gains and losses in profit or loss. The study also examines the Ukrainian approach proposed by Draft Law No. 10225-d, which follows a realization-based taxation principle and generally links tax consequences to conversion into fiat currency rather than unrealized remeasurement. This creates a timing gap between accounting carrying amounts and the tax base and may generate deferred tax implications. The article considers the consequences for companies holding crypto assets as treasury reserves, investments, or trading inventories, including the effects on profit, liquidity assessment, financial covenants, tax planning, audit procedures, and disclosure. The article argues that Ukrainian enterprises should prepare accounting policies for crypto-assets in advance, establish clear criteria for distinguishing IAS 2 and IAS 38 treatment, document fair value sources and active markets, strengthen controls over blockchain addresses and private keys, and model prospective tax differences. For regulators, synchronization of tax rules with accounting methodology and methodological guidance on IFRS application are identified as priorities. The results contribute to the development of a more coherent analytical framework for assessing crypto-assets across accounting and taxation systems and provide a basis for further empirical research into reporting quality, investor decision-making, and the treatment of stablecoins, tokenized real-world assets, and non-fungible tokens. 

cryptocurrency, virtual assets, financial reporting, IFRS, US GAAP, IAS 38, measurement, fair value, intangible assets, taxation of crypto-assets