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Finance

Virtual money poses accounting dilemma for Japan's early adopters

Asset or expense? The bottom line depends on the answer

The Japanese market for virtual currencies is projected to reach 1 trillion yen ($9 billion) in fiscal 2020.

TOKYO -- A new law defining virtual currency as a payment method goes into effect in Japan this Saturday, but in the absence of specific accounting rules for innovations like bitcoin, companies are feeling their way forward.

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