Tutorial question –IAS2, IAS38& IFRS13 Accounting Theory Entities and individuals are increasingly considering initial c

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Tutorial question –IAS2, IAS38& IFRS13 Accounting Theory
Entities and individuals are increasingly considering initialcoin offerings (ICOs) to raise capital or participate in investmentopportunities. While these digital assets and the relatedtechnology may present a new and efficient ways to carry outfinancial transactions, they also bring an increased risk of fraudand manipulation as the markets for these assets are less regulatedthan traditional capital markets(U.S. Securities and ExchangeCommission, 14 July 2021).
You are required to: discuss how these crypto-assets should beaccounted for in accordance with the above IASs/IFRSs/MFRSs.
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Format:
1.Brief relevant discussion on: Key definition, Recognition,Measurement & Disclosure/Presentation of IAS2, IAS38&IFRS13.
2. Propose how entities should account for the crypto assets inaccordance with the above IASs/IFRS.