Cryptocurrency accounting dynamics : Assessing influences and regulatory needs in Malaysia

Cryptocurrencies is getting familiar and have a significant attention in society, especially since well-known companies like Wikipedia, Microsoft and Amazon have acceptance cryptocurrencies. Regardless of growing in popularity, cryptocurrencies’ accounting treatment presents issues and challenges to the accounting profession such as accountants, auditors as well as standard setters and end users. The complexity results from the fact that certain elements of cryptocurrencies do not cleanly fit inside established accounting standards. Given that cryptocurrencies are used for a variety of business nature and purposes, their treatment under accounting standards is complicated. The research aims to understand how cryptocurrency features, adherence to accounting principles, and the need for new standards affect its accounting treatment in Malaysia. The research framework utilizes accounting conceptual principles to analysed how cryptocurrency functionality, adherence to accounting standards, and the necessity for n