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What accounting standards might be used to account for cryptocurrency? Another option is to treat cryptocurrencies as another type of financial asset, such as an investment. Besides making transactions using this type of currency, people also make money with cryptocurrency.
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For example, depending on the nature of the underlying asset, you might account for. Until recently, there was literally nothing official related to accounting for holding of cryptocurrency. That’s why we make crypto simple. If the trading threshold is met, the net profits will be subject to income tax rates of 20%, 40%, and 45 percent, as well as. At first, it might appear that cryptocurrency should be accounted for as cash because it is a form of digital money.
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