Venezuelan public accountants approve crypto accounting record rule

The standard establishes four main aspects of cryptocurrencies for recognition, measurement, presentation and disclosure

After a public consultation on the regulations that will govern the accounting record of petros in the country, the Federation of Public Accountants of Venezuela unanimously approved the VEN-NIF 12 bulletin zero version on the “possession of own crypto assets”. It means that the regulation will allow companies to sell products and services in cryptocurrencies.

In an extraordinary session of the extended national directory held on February 15, the guild discussed the bulletin which establishes four important aspects of cryptocurrencies for recognition, measurement, presentation and disclosure.

Each item details the methods that accountants must apply in the bitcoin or petro trading. The regulation will govern these two cryptos without including digital currencies stored in exchange houses or digital mining.

On the other hand, Jorge Gómez, secretary of studies and investigations of the Federation, informed CriptoNoticias that “there were 32 votes in total, 15 of the members of the federation and 17 of the presidents of the Associated Colleges of Accountants who attended. The document was renamed and some styles in the paragraphs related to the measurement of cryptoactives and in the conclusions”.

So far it is unknown if these preliminary provisions have already been submitted to the National Superintendence of Cryptoactives and Related Activities (Sunacrip in Spanish).


Source: secomenta

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