JAPAN TO PREPARE THE APPLICATION IN CALCULATION OF ACCOUNTING BITCOIN

 

Speaking of digital currency, today Japan is the country that leads the development, especially for Bitcoin. In April 2017, Japan made Bitcoin as legal currency in the country, so many traders are adopting Bitcoin as payment systems in their stores.

Not long ago reported the Japan a country that has the world's largest Bitcoin market after China issued new regulations related to trade Bitcoin.

Currently Japan is also preparing guidance on how the virtual currency can be applied in accounting calculations. It involves the preparation of the Accounting Standards Board of Japan. As reported by asia.nikkei.com, the guide also covers how to handle the initial coin deals or ICO, a method of fundraising, which resulted in the virtual tokens that can be traded.

Before a law has also drawn up in Japan that went into effect in April and related treatment on Bitcoin payment method similar to money like the dollar and yen. The legal framework for the company now requires a digital asset exchange to apply to the FSA. Businesses that have been in operation could continue, but are asked to register at the end of September.

Virtual currency exchanges will face formal conditions such as maintaining a minimum capital stock to 10 million yen ($ 90.870) and keep the liabilities exceed assets.