ABSTRACT: The use of cryptocurrencies and blockchain technology supporting them is profoundly influencing business-economic paradigms and, consequently, accounting frameworks. Given the topicality and complexity of the subject, this paper has a dual objective: on the one hand, to highlight the need for a hermeneutic/interpretative framework for understanding the issue, focusing on the use of cryptocurrencies in the business context; on the other hand, to analyze, through a comparative approach, the possible accounting treatments envisaged for cryptocurrencies, describing the advantages and limitations of each method and the related implications for corporate disclosure. Methodologically, the study combines a critical literature review to establish the theoretical background with a case study providing empirical evidence of the phenomenon. Theoretical analysis reveals that cryptocurrencies exert a transformative influence on four key economic and managerial paradigms. They foster innovative business models, introduce new principles for corporate governance, redefine the strategic role of corporate treasury and finance, and necessitate alternative accounting approaches for cryptocurrency valuation, thereby reshaping the informational function of financial reporting. The case study further demonstrates how cryptocurrencies can drive the transition toward an innovative business model characterized by managed volatility, decentralization, and a redefinition of corporate value. These developments have significant implications for accounting practices and shareholder perceptions, highlighting broader managerial and financial consequences of adopting cryptocurrency-based strategies. Overall, this study contributes to business and management literature by integrating theoretical insights with empirical evidence, offering a comprehensive perspective on the transformative effects of cryptocurrencies and informing future research on their role within firms.
Keywords: cryptocurrency; intangible asset; fair value; IAS 38; OIC 24.
