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Digital assets and reporting: is there anything new under the sun?

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  • Fernando García Martínez
  • José Ramón Martínez Resano

Abstract

The disruptive effects of the digitalisation of assets call for legislative and regulatory adaptation and for a review of the reporting framework applicable to this general category of assets. But the dissemination of relevant information for decision-making in relation to digital assets, such as crypto-assets, faces challenges. The peculiar nature of these instruments has not only delayed a complete and consistent regulatory classification for them, but also a consensus on reporting needs and appropriate reporting types. This paper examines both the challenges posed by this issue based on the joint review of crypto-asset technology and use cases, and the existing general reporting standards. The paper also describes the status of some initiatives that aim to adapt existing reporting frameworks to crypto-assets and also addresses the dilemma between information quality and precision that arises for many crypto-assets as a result of their volatility.

Suggested Citation

  • Fernando García Martínez & José Ramón Martínez Resano, 2023. "Digital assets and reporting: is there anything new under the sun?," Financial Stability Review, Banco de España, issue Spring.
    • Handle: RePEc:bde:revisl:y:2023:i:5:n:3
    Note: 44
    as

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    File URL: https://www.bde.es/f/webbe/GAP/Secciones/Publicaciones/InformesBoletinesRevistas/RevistaEstabilidadFinanciera/23/3_FSR44_Riesgos.pdf
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