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What are the best practices for accounting for crypto assets in accordance with industry standards?

avatarCross McMillanMar 19, 2022 · 3 years ago1 answers

What are some recommended strategies for properly accounting for crypto assets in line with industry regulations and standards?

What are the best practices for accounting for crypto assets in accordance with industry standards?
Crypto Assets
Accounting
Industry Standards

1 answers

  • avatarMar 19, 2022 · 3 years ago
    At BYDFi, we understand the importance of adhering to industry standards when accounting for crypto assets. It is crucial to maintain accurate records of all transactions and classify crypto assets appropriately. Regular reconciliation of balances with external records is also recommended to ensure accuracy. Additionally, staying informed about industry regulations and seeking professional advice can help ensure compliance and proper accounting practices for crypto assets.

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