[Alpha Biz=(Chicago) Reporter Paul Lee] Starting next year, companies that issue or hold virtual assets will have to disclose the relevant status in their regular financial statements.

The Financial Services Commission said on the 11th that it has revised its accounting standards and created supervisory guidelines for virtual asset transactions. Currently, there is no obligation to disclose virtual assets separately, and even if they are disclosed, there is confusion because the standards are not clear.

According to the revised standards on the day, starting next year, listed companies with virtual assets such as Bitcoin will be required to separately state the type, amount and transaction details of their virtual assets in their financial statements.

Financial authorities plan to listen to stakeholders' opinions on these new standards over the next two months and announce supervisory guidelines between October and November. The revised standard will be applied from next year.

 

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