Crypto

Hi,Sir for past year question from Mar 2019 Q3 a) II)

Ans: At the date of the modification of the contract to the functional currency of Crypto, there is a significant change to the contract which will trigger a reassessment of its position under IFRS 9. As the contract no longer has a non-closely related embedded derivative, the entire arrangement will be accounted for prospectively as an executory contract whichis outside the scope of IFRS 9. The embedded derivative will be derecognised and it is likely that Crypto will have to paythe counterparty 2 million euros in compensation.

My questions are why there are no longer has a non-closely related embedded derivative after modification and hybrid contract is measured at what as derivative is measured at FVTPL?