Classification and Treatment of Crypto Assets
📌 Crypto assets are legally treated in three primary ways: as virtual currency (like cash), as a commodity (like inventory), or as a financial instrument (like securities/bonds).
🌐 Due to their digital and intangible nature, crypto assets lack direct centralized control, operating on a peer-to-peer basis via blockchain technology.
💰 Tax implications vary based on classification; for example, when treated as securities, they are not subject to Value Added Tax (PPN) because securities are not considered taxable goods.

Crypto Trading and Transaction Cycle
🔄 The typical crypto trading cycle involves a customer depositing funds into a digital wallet to register, then using that platform (PFA/exchanger) to buy crypto, which acts as an intermediary.
💰 Transaction taxes, specifically income tax (PPH), are generally imposed on the intermediary/exchanger level, often as a final tax (final PPH).
⛏️ Miners earn rewards by solving mathematical equations using computing power to generate new blocks on the blockchain; these mining rewards are subject to PPH.

Accounting Methods for Crypto Assets (Intangible Asset)
📊 If treated as an Intangible Asset (PSAK 138/IAS 38), crypto can be valued using either the Cost Model or the Fair Value Model at year-end.
📉 Under the Cost Model, amortization is not performed because crypto assets have an indefinite useful life; however, mandatory impairment testing (comparing carrying amount to recoverable amount) must be conducted.
📈 Under the Fair Value Model, adjustments for gains or losses are recorded, with gains often going to OCI (Other Comprehensive Income) and losses potentially hitting the income statement, eliminating the need to calculate the recoverable amount.

Accounting Methods for Crypto Assets (Inventory)
💼 If crypto is held as Merchandise Inventory (PSAK 202/IAS 2) by a regular dealer, its value is recorded at the lower of cost or Net Realizable Value (NRV).
📉 A loss is recorded only if the NRV is lower than the cost; if NRV is higher than cost, no entry is made, as the asset is held for sale.
📈 If the entity is a broker/intermediary, the inventory must always be adjusted to NRV, meaning both increases (gain) and decreases (loss) must be journalized.

Key Points & Insights
➡️ Crypto assets' accounting treatment (Intangible Asset vs. Inventory) depends entirely on the investor's intent (investment vs. merchandise for sale).
➡️ For intangible assets under the Cost Model, mandatory impairment assessment requires comparing the carrying amount against the recoverable amount, determined by the higher of NRV or Value in Use.
➡️ When accounting for inventory, brokers/intermediaries must adjust to NRV regardless of whether the value increased or decreased, unlike regular dealers who only adjust downwards (Lower of Cost or NRV).

📸 Video summarized with SummaryTube.com on Jan 13, 2026, 13:34 UTC