The emergence of cryptocurrencies has disrupted traditional financial systems, creating both opportunities and challenges for financial institutions. This study examined the effects of cryptocurrency adoption on the quality of financial statements in listed Deposit Money Banks (DMBs) in Nigeria from 2018 to 2023, focusing on cryptocurrency volatility, organizational cryptocurrency exposure, and accounting information systems complexity. Using a panel EGLS (two-way random effects) regression analysis on data from 16 DMBs, the results revealed that cryptocurrency volatility had no significant effect on discretionary accruals, indicating limited influence on financial statement quality. Organizational cryptocurrency exposure significantly improved financial reporting quality by reducing earnings manipulation, highlighting the potential of blockchain technology for transparency and accountability. However, increased accounting information systems complexity was associated with higher discretionary accruals, suggesting reduced reliability in financial statements. The study recommended that policymakers should prioritize the establishment of clear and comprehensive cryptocurrency regulations. These should address valuation, recognition, and disclosure challenges, providing standardized guidelines for integrating cryptocurrencies into financial reporting.