The Central Bank of Brazil issues a draft accounting standard for cryptocurrency assets
On June 26, according to information from the official website of the Central Bank of Brazil, the agency has just announced a draft resolution regulating the accounting recognition, measurement, derecognition, and disclosure of information related to cryptocurrency assets and utility tokens of financial institutions.
The goal of enhancing transparency and the quality of cryptocurrency accounting information
The draft aims to enhance transparency, comparability, and improve the quality of accounting information about cryptocurrency assets. These standards will help financial institutions report more accurately on transactions and asset values within the cryptocurrency ecosystem, while also improving investor confidence and that of other stakeholders.
The public consultation phase lasts until August 2025
The Central Bank of Brazil has opened a public consultation period for this draft resolution until August 24, 2025. Citizens and interested parties can submit opinions and proposals through the Central Bank's official website or the 'Participa + Brasil' platform, contributing to the improvement of the legal framework for cryptocurrencies within the national financial system.
Potential impact on the Brazilian cryptocurrency ecosystem
Standardizing accounting rules for cryptocurrencies not only helps solidify a strong legal foundation but also promotes the sustainable development of the cryptocurrency market. Financial institutions will be provided with clearer guidance in managing risks and optimizing cryptocurrency transactions, while facilitating the flow of domestic and international investment into the market.
The Central Bank of Brazil's implementation of the draft accounting standard for cryptocurrencies is an important step in keeping up with the trend of digital finance. This move not only increases transparency but also lays a strong legal foundation to help the Brazilian cryptocurrency market develop stably and sustainably in the near future. Market participants should closely monitor and actively contribute opinions towards a more transparent and professional ecosystem.
Source: https://tintucbitcoin.com/ngan-hang-brazil-khao-sat-chuan-ke-toan-so/
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