Brazil's Central Bank Opens Public Consultation on Draft Virtual Asset Accounting Standards

BlockBeats News, June 26th, according to official sources, the Central Bank of Brazil (BCB) has launched a public consultation on a proposal regarding the standardization of virtual assets and utility tokens in financial institutions and other entities regulated by it, in terms of accounting recognition, measurement, derecognition, and disclosure.

The key points of the proposed resolution include: standards for initial recognition and subsequent measurement, accounting treatment for self-issued virtual assets versus third-party custody virtual assets, and disclosure requirements in the financial statements notes, which should provide detailed explanations of asset value fluctuations, asset nature, and obligations related to issued assets.