Practical treatment concerning accounting treatment of virtual currency etc. in the fund settlement law

Curriculum and overview

  • “Practical handling concerning accounting of virtual currency etc. in the fund settlement law”
    “Practical Guidelines on Auditing of Financial Statements by Virtual Currency Exchange Agencies” (Exposure Draft)
  • Lightning network


“Practical handling concerning accounting of virtual currency etc. in the fund settlement law”
“Practical Guidelines on Auditing of Financial Statements by Virtual Currency Exchange Agencies” (Exposure Draft)

The “Practical treatment concerning the accounting of virtual transit etc in the fund settlement law” was proposed on December 6th of last year, and another person talks at past study meeting, but the whole I will explain.
It is a regulatory trend about virtual currency, but in 2014 there is a case of a failure of Mount Gox, there is a danger of using it for the necessity of protecting users, maneuroon, terrorism.
Even at the summit there is a talk, but each country should not impose a registration system and a licensing system on the virtual currency exchange trader, should we impose restrictions on moneyoning and terrorism funds, in Japan it is ahead of the world funds in the world The settlement law was revised and restrictions on the virtual currency exchangers were made.
The main point of revision is that the definition of virtual currency, definition of virtual currency exchange trader, registration system was introduced. Regulations concerning other operations, regulations concerning industry groups, penalties, etc. were decided, and the revised fund settlement law was enacted in April of last year.

The flow of laws and regulations, accounting and auditing will be the flow, but the issue of fund settlement law is June 2016 and the revised fund settlement law was enforced in April 2017. After that, registration of the virtual currency exchange trader was done, and according to the website of the Financial Services Agency, 16 companies were registered as of March 7, 2018, and some companies are applying for registration.
As for accounting, the accounting rules deliberation began around March last year as to whether the company’s accounting treatment will be broken up, and on December 6, last year, the Business Accounting Standards Committee (ASBJ ) Drafted a “Practical Treatment on Accounting of Virtual Currency, etc. in the Law on Payment Settlement”.
A public comment was invited until February 6, and some corrections were made in response to the comment, and the final “handling concerning the accounting of virtual currency etc in the fund settlement law” was announced on March 14 It will be the trend …

Regarding the example of the demonstration proceedings concerning revenue recognition in paragraph 27, the demonstration procedure is the procedure to be carried out when the audit corporation conducts the audit, but it is written that this is a demonstration proceeding against revenue recognition, I would like to see.
Paragraph 28 is an example of a demonstration procedure corresponding to the existence of virtual currency and paragraph 29 is an example of a demonstration procedure corresponding to the evaluation of virtual currency.

It is not necessary to memorize these separately because these are procedures that the audit corporation carries out, but I think whether you care about this kind of thing to happen.
Conversely, although our hands may have been announced, it says that we will do such an audit procedure.
Since this is written in the Exposure Draft, I think that you would like to read the original text once, since there is not so much so please think that if you have comments, those who have comments can publish pub rice .
This is the explanation of “Practical Guidelines on Accounting for Virtual Currency” and “Practical Guidelines on Auditing of Financial Statements by Virtual Currency Exchange”.

(Questioner 1)
In terms of volume audit cost of ordinary auditing firms, if we assume that FX company or securities company of the same size company is 1, the auditing cost when executing this financial statement audit is roughly about how many Can you do it?

(Mr. Hinakaki Co., Ltd. PwC Yuru limited liability audit corporation)
Although it is a difficult question, I think that it takes quite a lot of work because the audit procedure is not established because the block chains peculiar to the virtual currency have never existed.
Also, as there are a lot of kinds of virtual currency handling, the type of block chains may be different, so it is difficult to unconditionally because there is feeling that man-hours will increase if such kinds of virtual currencies are handled · · ·



Lightning network

Lightning network becomes an advanced technology of bit coin, people who love bit coin called bit coiner and core co-developers such as bit coin are made to solve transaction clogging of bit coin scalability problem It will be something.
I grabbed the image of the lightning network and gave me the location of the reference, so I would like you to know deeply about Lightning Network.
Before getting into the main theme I would like to talk about the micropayment channel of Lightning Network after explaining the scalability problem of bit coin of premise knowledge.
For money transfer of bit coins, information that who sent the bit coin to whom to whom was recorded as transaction information in transaction data.
There is an unused part of the output part included in a transaction called UTXO (Unspent Transaction Output), but by putting it on a thing like a newspaper called a block so that it is not used twice, this UTXO is used It is a mechanism to inform you that it is.
Bit coin is a mechanism to prevent tampering by Proof of Work (PoW: work proof) when generating blocks.
Minor is generating blocks by doing Hash calculation (mining) by applying a lot of electricity bill.
Although the generation fee of the block is obtained by 12.5 BTC per block, initially there is a half life of about 50 BTC every 4 years and now it is 12.5. In addition, next time the block generation fee will be 6.25 BTC in 2020.
The reward that the minor receives can be not only the block generation fee, but also the sum of the transaction fee to the minor included in the block, so it becomes a mechanism that allows 12.5 BTC to add a transaction fee I will …

In the case of a lightning network, funds can be remitted even if any participants on the network do not open a payment channel.
Today’s example was an image that opened one channel from one person to make it simple, but from one node you can paste a channel to multiple nodes.
Since the number of nodes at yesterday exceeds 1,000, the number of channels pasted from the node exceeds 2,300.
What is often misunderstood is that when a huge bucket comes out that has a lot of money to make a channel deposit, a lightning network puts a node on a node with a big buck, a center like a bank I became to have the power of centralization and I was worried that it might not be a distributed mechanism like bit coin.
For the moment, I think that a distributed network is formed and I am not concentrating on somewhere.
Some nodes concentrate on many channels, but since the smaller nodes are also connected to each other, even though they do not pass through a huge node with many channels attached, they pass between small nodes It is also possible to go.

(Questioner 2)
In short, what about the payment made on the off-chain layer is all understanding that it is defined as micropayment?

(Cube System Co., Ltd. Mr. Obuchi)
I agree.
As a technical definition, I think that it will be an explanation that detailed remittance can be remitted in the micropayment channel …

(Overall data is released only to associate members)




  • 「資金決済法における仮想通貨の会計処理等に関する当面の取扱い」

     PwCあらた有限責任監査法人 檜垣 寛氏
  • ライトニングネットワーク
     株式会社キューブシステム 小渕 周氏



PwCあらた有限責任監査法人 檜垣 寛氏


 法令や会計、監査の流れになりますが、資金決済法の交付が2016年6月で、改正資金決済法が2017年4 月に施行されました。その後、仮想通貨交換業者の登録がなされ、金融庁のホームページによりますと2018年3月7日現在で16社が登録済みということになり、登録申請をしている会社があります。




(PwCあらた有限責任監査法人 檜垣氏)




株式会社キューブシステム 小渕 周氏

 本題に入る前に前提知識のビットコインの抱えてるスケーラビリティ問題を説明させていただいた 後に、ライトニングネットワークのマイクロペイメントチャネルの話をさせていただきたいと思います。
 UTXO(Unspent Transaction Output)と呼ばれるトランザクションの中に含まれるアウトプット部分の未使用の部分がありますが、これは二重使用されないようにブロックという新聞みたいなものに載せることにより、このUTXOは使用済みだということを知らせるような仕組みになります。
 ビットコインではブロックを生成する際に、Proof of Work(PoW:作業証明)により改ざんを防止する仕組みです。



(株式会社キューブシステム 小渕氏)