Case 20-6c: Classification of Cryptocurrency HoldingsPage 2 Copyright 2020 Deloitte Development LLCAll Rights Reserved.The amount of coins for a particular cryptocurrency that are in circulation is tightly controlled. For example, for Bitcoin there is a limit on the number of coins that can exist. New Bitcoins are only created as payment to processors (called "miners") for providing the service of validating and distributing an electronic ledger of these transactions to those involved in maintaining the blockchain. Required: 1.How should the Company's holdings of cryptocurrency be classified in the statement of financial position under U.S. GAAP and IFRS Standards? 2.How should the holdings of cryptocurrency be initially and subsequently measured under U.S. GAAP and IFRS Standards?