Crypto asset knowledge levels of accounting professionals and attitudes towards accounting of crypto assets: The case of Malatya and Izmir provinces

Crypto asset formation began with Bitcoin, which emerged with the article published by Satoshi Nakamotu in 2008. Crypto assets refer to all the coins and tokens in the crypto universe produced with blockchain technology. Crypto assets are assets in which cryptographic techniques are used to verify transactions between parties without relying on a central authority. There is no legal regulation yet on how crypto assets, a new asset class, should be accounted for, and there is uncertainty. The aim of the study is to measure the crypto asset knowledge levels of professional accountants and to determine their opinions on how transactions related to the use of these assets should be accounted for. It is thought that the results obtained will contribute to the legal regulations that can be made. A survey method was used in the study to measure the crypto asset knowledge levels of professional accountants and to determine their attitudes towards how crypto assets should be accounted for. The sample of the research consists of professional accountants who are registered to the Chambers of Independent Accountants and Financial Advisors and Financial Advisors in Malatya and Izmir provinces and continue their profession in these provinces. In the application survey, in addition to questions to determine the demographic characteristics of professionals, questions were also asked to measure the participants' level of knowledge about crypto assets. There are also questions such as which asset class crypto assets should be classified into, in which account crypto assets should be monitored, according to which valuation scale crypto assets should be valued, and how crypto assets should be taxed. As a result of the research, it was determined that professional accountants do not have sufficient knowledge about crypto assets. It has been concluded that professionals who do not have sufficient knowledge have uncertainty about the subject. As a result, it is seen that professional accountants do not have clear information on the subject and, along with the lack of information, they do not have a clear opinion on how crypto assets should be accounted for. The lack of accounting standards and legal regulations are the source of this uncertainty. In order to eliminate the uncertainty regarding the accounting of crypto assets, which are so widely used, new accounting standards need to be created and officially announced. Keywords: Crypto Asset, Blockchain, Accounting, Accounting Profession