National legal portal of Belarus has published the decree of the Ministry of Finance of the Republic, which sets the status of the digital tokens in the accounting system. It determines how the accounting system of the enterprise can be formed to record a digital token and the obligations that arise from the placement of such a digital asset.
The decision is based on the method of acquisition of a digital asset and its subsequent use. For example, if the token is potentially intended for sale, it can go in the debit account “Goods” and credited to “Income and expenses for current activities”. If the method of acquisition of mining assets can be attributed to the debit of the account “Finished goods” and credit account “Main manufacture”, etc.
The resolution of the Ministry of Finance also proposes approaches to assessing the token and the disclosure of certain information about them in the accounting (for example, the disclosed composition the tokens by type and the initial value at the end of the previous year reporting period).
We will remind that on December 22 the President of the Republic of Belarus Alexander Lukashenko signed a decree “On the development of the digital economy”, which will take effect March 28. It provides for the legalization of the 38 types of activities in the sphere of high technologies, including mining and cryptocurrency circulation.
Recently, on March 20, a group of deputies of the state Duma of Russia introduced the draft law “On digital of financial assets”, which provides a number of important definitions. For example, under the future law, the digital currency can be multiple issuers and token — the only one, but in General they should be considered property in digital form.
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