The Ledger of Tomorrow: A Critical Examination of Cryptocurrency Accounting Framework

With the global rise of e-commerce and digital transactions, physical cash and currencies may become obsolete or utilised less often. The advantages of digital currencies over fiat money will incentivise individuals and companies to engage with them more frequently. Cryptocurrencies impact various domains, including the economic, corporate, social, and environmental sectors, among others. Literature about accounting and cryptocurrencies is limited. This study aims to examine existing literature and discern themes that could inform future research initiatives in this domain. There are two primary research objectives derived from the specific research challenge. The objectives are to examine the current literature on cryptocurrency accounting, to categorise researchers' interests by theme, and to identify potential areas for future research in cryptocurrency accounting. The Systematic Literature Review (SLR) was conducted using the PRISMA technique. Twenty-one papers were obtained from the Scopus and Lens.org databases utilising the keywords "Accounting" and "Cryptocurrency."   The review methodology has been developed in accordance with the PRISMA standard. Keyword co-occurrence analysis was conducted using VOSviewer software (Version 1.6.20). Current financial reporting standards lack a definitive definition or guidelines on cryptocurrency. Keyword co-occurrence analysis was performed utilising VOSviewer software, resulting in the identification of five clusters of keywords. The density visualisation map indicates that all keywords, except cryptocurrency and computer security, are under-researched, presenting chances for future scholars to examine the interrelations and undertake empirical investigations and case studies in this domain. Thematic analysis yielded five themes: Accounting and financial reporting, Tax framework, Technology and system, Regulatory framework, Challenges and limitations. These themes have been based on the findings and statements by the previous researchers that are included in the selected twenty-one papers for the particular study.