Brazilian Central Bank Issues Public Consultation on Virtual Asset Accounting Standards, Laying Foundation for Digital Asset Regulatory Framework

The Central Bank of Brazil has recently released a significant draft for public consultation on virtual asset accounting standards, with the comment period open until August 24. The draft resolution centers on three core areas: first, establishing clear criteria for the initial recognition and subsequent measurement of virtual assets; second, standardizing accounting procedures for both self-issued virtual assets and third-party virtual assets held in custody; and third, requiring detailed disclosures in explanatory notes regarding value fluctuations of issued assets, asset characteristics, and associated rights and obligations. The introduction of these standards is expected to strengthen the regulatory development of Brazil’s digital asset market and provide institutional participants with clearer accounting guidance.

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