Cryptocurrencies: trend or reality? Evidence from the financial statements of Brazilian public companies

This study investigated the disclosure of transactions and any reservations of cryptocurrencies in 2018 financial statements of Brazilian companies listed in B3, through content analysis of the explanatory notes of companies indexed in the index IBRX100. This paper is supported by the Theory of Voluntary Disclosure Information technology aligned to globalization are factors of a significant impact on economic activities worldwide. We used procedures for bibliographic and search of secondary data through documentary research, given that the information compiled by the study were extracted from the explanatory notes of Brazilian companies listed in B3. The technique used was the analysis of content. The research identified the extensive use of real (BRL) as functional currency and the US dollar (USD) as the main foreign currency. The study did not find the disclosure of the use of cryptocurrencies. Or even the existence of assets recorded on cryptocurrencies or even the use of the validator chain called blockchain. This finding corroborates the theory of voluntary disclosure and contradicts the previous studies that point to more extensive use of cryptocurrencies on regular business activity. Thus, the study contributes to the literature on cryptocurrency operations in Brazil. This study proposes questions regarding the use and disclosure of cryptocurrencies in financial statements of Brazilian companies.