Tbh, after going through IRB guidelines, adopting bitcoin is not too much of a problem accounting & reporting wise. The IRB is pretty clear on its use cases for a normal business transaction.
Yes, tracking of cost needs to be in place, but a normal trading company with inventory needs to do that too.
Maybe I should do a study on all tax departments guidelines in South East Asia for a comparison. I know certain country in this region has banned the usage of crypto as a method of payment, thankfully my country is open to it.
jupling /
npub14c…97nf4
2023-03-03 12:23:31
Author Public Key
npub14cmhetuylqhpmcq2mwve3ruvzyjz7r233lj8zk3qyws253tvchksn97nf4Published at
2023-03-03 12:23:31Event JSON
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"content": "Tbh, after going through IRB guidelines, adopting bitcoin is not too much of a problem accounting \u0026 reporting wise. The IRB is pretty clear on its use cases for a normal business transaction.\n\nYes, tracking of cost needs to be in place, but a normal trading company with inventory needs to do that too. \n\nMaybe I should do a study on all tax departments guidelines in South East Asia for a comparison. I know certain country in this region has banned the usage of crypto as a method of payment, thankfully my country is open to it.",
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