Japanese Companies Develop Crypto Accounting Tool
The representatives of Japanese companies Cryptolinc and Miroku Information Service have jointly developed the first crypto corporate accounting product in the country.
The tool will record information about cryptocurrency transactions in the financial system Miroku Information Service, taking into account the requirements of legislation. At the same time, this solution will help accounting firms to simplify the paperwork and preparation of tax declarations.
The Japanese crypto industry promptly extends. The Accounting Standards Board of Japan (ASBJ) has issued rules for recording crypto transactions in accordance with the Payment Services Act. However, the recognition of income and expenditure in cryptocurrencies is a cumbersome and time-consuming process. The crypto market participants have been looking for a solution of this problem for a long time.
Cryptolinc develops systems for accounting cryptocurrency transactions and Miroku Information Service provides accounting services.
As previously reported, Japan Virtual Currency Exchange Association offered to limit the trading of clients in order to protect small investors.