Accounting

Accounting for portfolios including tax reporting and other regulatory reporting. Some PMS systems may produce this information.

The key risks are privacy and governance.

Operations risk (5)
Does the provider disclose ASC 820 / IFRS 13 valuation outcomes?
5.136 Valuing spot and derivative digital assets is complex. Calculating and reporting realized and unrealized gains and losses are often dependent on third party prices and possible model assumptions and variables. NAV reporting and valuation (levels 1-3) can be different when reporting using US GAAP or IFRS. Although IFRS supersedes US GAAP, US GAAP is still a popular accounting methodology. Long term hodl books and trading books should be accounted for differently
Reputation risk (16)
Does the accounting provider guarantee full privacy?
16.104 Accounting and tax information maybe confidential and risks of access by bad actor could cause reputational damage
Operated by BinariiLabs
Ireland
Privacy disclosure

We respect, as should all of us, your privacy. We aim to collect as little as possible. We use no marketing cookies and try to keep our code dependancies to a minimum. If you think we can do better, let us know. Further information: Privacy Policy

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No financial advice

These global standards, best practice guidance and risk due diligence questions are an attempt to make DeFi a level playing field. They are not intended to provide any investment advice. Claims made in this website do not constitute investment advice and should not be taken as such. In the meantime, it would be very useful if the jurisdictional regulators would start working together and treating these new financial related projects as a different form of instrument. The Howey Test (1946) was designed in an era of deeds of title and paper bearer certificates. DeFi can be humanless and profit is not always the motive for using protocols. TradFi Derivatives for example are based on underlyings of real assets like the fair value of incorporated companies whose value is derived from fiat currencies which are themselves derivatives on an underlying like gold or a printing machine. Fiat is seen to be a real asset which it clearly is not. The new DeFi world matches actors with agendas. Most of the time the agenda is to do things better and faster. Defi enables everyone including the bankless and unserved members of the community to transact without having to understand how to use Excel or have an MBA from an elite university or be able to able to decipher the millions of pages of legal text opinions as to whether a bitcoin is a currency, a security, a commodity, a derivative, an underlying, a valueless number, type of gambling or something that will just go away. While we wait for a consensus by the old guard, the new guard will create their own computer based standards. Our aim is to turn these standards into bots or smart contracts that do all of this behind the scenes. Image a world where the community agree on how to transact and just do it without a parental overseer who is always a bit behind the curve...

API

You can grab this data (=importdata(api)) for free. The full data set is here at

/api/?data=all&format=[csv|json]

If you have a key you can grab completed rddqs for the most current relevant actor services at

/api/actors?data=all&format=[csv|json|html]&key=[*]

Collateral & Code

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2022-23

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