Overview of the Practical Guidance for Financial Statements Audits of Virtual Currency Exchange Service Providers
A Look Into How Cryptocurrencies Will Be Audited Crypto Related Guidelines In Japan: A Recap With the enactment of the amended Payment Services Act in April 2017, Virtual Currency Exchange (VCE) Service Providers will now be subject to financial statements audits and segregation of funds audits. Because comparability of financial statements is considered one of the […]
Crypto Jargons
The Crypto World is full of funny and interesting jargons. But for people that are just starting off with cryptos, the jargons could be intimidating at first. I just posted an article in Japanese covering some heavily used English crypto jargons. Each jargon comes with a translation, pronunciation, and examples of how they could be used in […]
Some Thoughts After Attending the IMF-JFSA-BOJ Conference on FinTech
IMF-JFSA-BOJ Conference on FinTech – April 16, 2018, Toranomon Hills Though most of the talks were on FinTech developments in Asia (ex. presentation by a person from Alipay), there were some discussions on cryptocurrencies (ex. presentation by a gentleman from Deutsche Bank) which got me excited. The talk on cryptocurrencies wasn’t about a specific crypto […]
We Just Released “CryptoGain” for Beta Testing
CryptoGain is a Service That Will Make Tax Reporting of Cryptocurrency Trades Easy For the past few months, we have been receiving an overwhelming amount of inquiries from individuals regarding the tax filing of gains and losses from cryptocurrency trades. The tax rules regarding cryptocurrencies is nothing new and the tax authority’s stance is that […]
Japanese Tax Authorities Releases FAQ on Crypto Taxes
Some of the previous questions about calculating taxes for cryptocurrency have been clarified On December 1, 2017, the National Tax Agency (NTA) published a guidance titled “Calculating taxable income related to Cryptocurrency (Information)”. This is probably the first time that the NTA has officially expressed its views on calculating taxes for cryptocurrency in an FAQ […]
Audit and Accounting Related Services for Cryptocurrency Exchanges
Cryptocurrency Exchanges Looking for Auditors in Japan Cryptocurrency Exchanges operating in Japan require audits by a CPA over their financial statements and segregation of funds. For details, go see my other post on this topic. At our firm, a CPA that knows crypto will help you with your accounting and auditing related needs. We can also […]
Accounting Standards Board of Japan Releases Exposure Draft on the Accounting for Virtual Currencies
I posted an analysis of the Exposure Draft on the Accounting for Virtual Currencies released by the ASBJ on our Japanese blog, which can be viewed here. This could very well be the first official stab an accounting standard-setting body has taken in outlining the accounting rules for cryptocurrencies. If you would like a full English translation […]
