I-Bitcoin njenge-asethi ye-treasury yenkampani eNingizimu Afrika: Umhlahlandlela wabaqondisi benkampani
Inkampani yaseNingizimu Afrika ingabeka i-Bitcoin eshidini layo lebhalansi namuhla, ngokomthetho futhi obala, kanti umbuzo wokubalwa kwamabhuku uxazululiwe, yize kungeyona indlela amabhodi amaningi ayilindele. Ngaphansi kwesinqumo se-IFRS Interpretations Committee sikaJuni 2019, i-Bitcoin iyi-asethi engaphatheki ngaphansi kwe-IAS 38, kanti imodeli yokulinganisa kabusha ithumela izinzuzo zakho kwenye imali engenayo ebanzi ngesikhathi ukulahlekelwa kwakho kuwela kwinzuzo nokulahlekelwa. Okusele ngumsebenzi engihamba ngawo ngempela nabaqondisi: umbhalo wamabhuku, isikhundla se-SARS, isinqumo sebhodi, ukugcinwa nokwaziswa. Yilokho kuhamba, kusukela esinqumweni segumbi lebhodi kuze kufike osukwini izikhiye ezihlala ngalo ngaphansi kokulawula kwenkampani.
Iphuzu elisemqoka
I-IAS 38 iyikhaya elijwayelekile lokubalwa kwamabhuku. Ngaphansi kwemodeli yokulinganisa kabusha ukwenyuka kwakho kuya kwenye imali engenayo ebanzi nasekugcinweni kokulinganisa kabusha ngesikhathi ukwehla kwakho kushaya inzuzo nokulahlekelwa, ngakho imiholo ebikwayo ithwala ukwehla hhayi ukwenyuka. I-SARS ayithelisi lutho kuze kube wukudayiswa, bese kuba sezingeni le-CGT lenkampani elisebenzayo elingu-22.4%. Ibhodi kufanele lithathe isinqumo futhi i-memorandum of incorporation kufanele ivumele utshalomali. Izinhlamvu kufanele zihlale egameni lenkampani ekugcinweni kwe-multisig okuhlukanisiwe, hhayi neze ku-akhawunti ye-exchange yomqondisi. Lungisa lezo ezinhlanu bese okunye kungukuphatha nje.
Isinqumo siqala eshidini lebhalansi, hhayi eshadini
Abaqondisi abaningi beza kimi ngoba inkampani ihlezi phezu kokheshi olahlekelwa buthule ngamandla okuthenga. Leso yisiqalo esiqotho, futhi kuyinkinga ye-treasury ngaphambi kokuba ibe yinkinga ye-Bitcoin. Irandi elihleli ku-akhawunti ye-call lithola imbuyiselo encane ngesikhathi imali yenza lokho izimali ezikwenzayo, kanti ibhodi elibuka lokho kuguguleka alibhemi lapho lifuna indawo eqinile yokubeka ingxenye yokugciniwe kwalo. Lenza umsebenzi walo. Okuhehayo kwe-Bitcoin kumphathi wezimali akulona ishadi lentengo nhlobo. Yinani elimisiwe lezinhlamvu eziyizigidi ezingu-21 okungekho bhange elikhulu elingalincipha, elihlala eshidini lebhalansi njengesivikelo ngokumelene kanye nalolo hlobo lokwehliswa kwenani lemali oludla inqwaba yokheshi ngaphakathi.
Amavulandlela enza le mpikiswano eminyakeni edlule ngesilinganiso okunzima ukusiziba. U-Strategy, inkampani eyayibizwa ngo-MicroStrategy, waqala ukuguqula okugciniwe kwe-treasury yakhe kube yi-Bitcoin ngo-2020 ngokuthenga kokuqala izinhlamvu ezingu-70,469 ngamadola aseMelika angaba ngu-15,964 ngayinye, kanti intengo yesheya lakhe yenyuka ngaphezu kuka-900% ekuqaleni kuka-2021. Isinyathelo esasibukeka sinobungozi saguga saba ngesokuqala. Ngo-2024 amabhizinisi ayebambe izinhlamvu ezingaba ngu-914,000 esewonke, cishe u-4.4% wakho konke okuyoke kube khona, kanti inani lezinkampani ezisohlwini ezibamba i-Bitcoin lakhula ngo-80% ngonyaka owodwa. Ngilandele ukuthi lelo gagasi lezikhungo lakheka kanjani ku-ukwamukelwa kwe-Bitcoin yizikhungo, kanti inguqulo emfushane wukuthi isabelo se-treasury sayeka ukuba yinto engajwayelekile cishe ngesikhathi imithetho yokubalwa kwamabhuku ifika.
Ibhodi laseNingizimu Afrika alikhethi ukuthi ngabe umqondo uhloniphekile yini. Leyo mpikiswano isiphelile. Likhetha ukuthi likwenze kanjani kahle ngaphansi kwemithetho yasekhaya.
Okunye kwale ngosi yindlela.
Ukuphathwa kokubalwa kwamabhuku
I-Bitcoin ebanjwe njenge-asethi ye-treasury yenkampani iyi-asethi engaphatheki ngaphansi kwe-IAS 38, kulandela isinqumo se-IFRS Interpretations Committee sikaJuni 2019. Ithwele impilo yokusebenza engapheli, ngakho akukho ukwehliswa kwenani ngezigaba kodwa kuba khona isivivinyo sokwehla kwenani esikhundleni salokho. Ngaphansi kwemodeli yezindleko ihlala ngezindleko kususwe ukwehla kwenani, okusho ukuthi izinzuzo azize zivele nhlobo. Ngaphansi kwemodeli yokulinganisa kabusha, i-Bitcoin efanelekela yona ngoba kukhona imakethe esebenzayo, ukwenyuka kuya kwenye imali engenayo ebanzi nasekugcinweni kokulinganisa kabusha kunokuba kuye enzuzweni, ngesikhathi ukwehla kuya kwinzuzo nokulahlekelwa ngaphandle kwalapho kubuyisela emuva izinzuzo esezihlezi ekugcinweni. Leli yiphuzu abaphathi bezimali abaningi bokuqala abalibukela phansi, ngoba lisho ukuthi isitatimende sakho semali engenayo sibika ukwehla hhayi ukwenyuka isikhathi sonke osibambe ngaso isikhundla, kanti ikomiti lokuhlola amabhuku lidinga ukukuqonda lokho ngaphambi kokuba kuthengwe uhlamvu lokuqala kunokuba kube ngemva kwekota yokuqala embi. Ngichaze ukuthi lokho kungalingani kwenzani ebhodini elingaphansi kwengcindezi ku-ukuphathwa kwe-treasury ye-Bitcoin eNingizimu Afrika.
Kuhle ukwazi ukuthi imithetho yaseMelika yanyakaza, kanti eyakho ayinyakazanga. I-FASB ASU 2023-08 yabeka izinkampani zase-US enanini elifanele ngemali engenayo emsulwa, ngakho zamukela izinzuzo nokulahlekelwa kwe-Bitcoin okungakatholakali ngokufanayo. Yingakho okuningi kokuphawula nge-treasury okufundayo kucabangela ukulingana okungekho kumbiki we-IFRS waseNingizimu Afrika. Funda okushicilelwe kwamazwe ngamazwe ubambe lowo mehluko ngokuqinile emqondweni, ngoba igebe akulona iphutha umuntu ohlose ukulivala egameni lakho. Kumane kuyilapho izinhlelo zombili zihlala khona njengamanje.
I-SARS ithelisa ukuthengisa, hhayi ukushwiba
I-SARS iphatha i-Bitcoin yenkampani njenge-asethi yemali enkulu, kanti isigameko sentela wukudayiswa. Akukho okubonayo emgqeni wenani elifanele okuvusa isenti lentela kuze kube yilapho inkampani ithengisa ngempela. Ekudayisweni inzuzo yimali etholakele kususwe izindleko zokuqala, ithelwa ngezinga lenkampani no-80% wenzuzo ofakiwe uthelwa ku-28%, okungu-22.4% osebenzayo.
Ugibe wukuthi amabhuku akho nembuyiselo yakho yentela manje akuvumelani ngamabomu. Inani lamabhuku lihamba liye enanini elifanele ngosuku ngalunye lokubika ngesikhathi isisekelo sezindleko se-SARS sihlala simile kulokho okukhokhile. Inkampani eyathenga ngo-R5 million futhi ebika okubanjiwe ngo-R9 million ikhombisa inzuzo ka-R4 million ezitatimendeni zayo kanti ayikakhokhi ntela kuyo yonke leyo nzuzo okwamanje.
Ngakho uthwala izibalo ezimbili eceleni kwezinye, inani elifanele lokubika nezindleko zokuqala ze-SARS, futhi uzigcina zihlukene kusukela osukwini lokuqala. Lungisa ukugcinwa kwamarekhodi ngesikhathi sokuthenga bese uzisindisa ekwakhiweni kabusha okubi kamuva.
Isinqumo sebhodi ne-MOI
Alukho uhlamvu okufanele luhambe ngaphambi kokuba ibhodi lihlangane futhi libhale isinqumo. Isinqumo kufanele siqambe injongo yokubanjiwe, inani ngerandi eligunyaziwe, uhlelo lokugcinwa nomuntu onegunya lokuphatha isikhundla. Akuyona into yokwenziwa nje. Kungumqulu ovikela abaqondisi uma intengo yehla ngesigamu bese umuntu ebuza ukuthi ubani owasayina.
I-memorandum of incorporation yenkampani nayo kufanele ivumele utshalomali. Ama-MOI amaningi amadala abhalwa kudala kungakacatshangwa ngama-crypto asset amancane ngokwanele ukwenza isabelo se-treasury sibe nokungabaza, kanti lapho kunjalo isinqumo sabaninimasheya sokuchibiyela i-MOI siza kuqala. Ukuthi igama likabani eligcina lihlezi ku-asethi kuyisinqumo ngokwaso, futhi ngichaza ukukala igama lomuntu neyenkampani ne-trust ku-i-Bitcoin enkampanini, kwi-trust noma egameni lakho.
Enkampanini esohlwini ibha iyanyuka futhi. Ikomiti lokuhlola amabhuku kufanele libe ngumnikazi wokwengamela ingozi kanti ibhodi kufanele lilungele ukutshela abaninimasheya ukuthi lenzeni.
Imali ivelaphi
Isabelo se-treasury kufanele sixhaswe ndawana thize, kanti amabhodi engihlala nawo avame ukusithola ezindaweni ezintathu ezifanayo. Ukheshi oweqile namabhondi esikhathi esifushane alahlekelwa buthule yinani langempela kungumthombo osobala, ngoba yiyo imali isivikelo okuhloswe ukuthi isivikele kwasekuqaleni. Ezinye izinkampani ziqondisa kabusha imali obekungenzeka ziyisebenzise ekuthengeni kabusha amasheya noma kwiphrojekthi yemali enembuyiselo ephansi, ngesizathu sokuthi okugciniwe kwenani elimisiwe kungenzela abaninimasheya okuningi eshumini leminyaka kunakho kokubili. Ezimbalwa zimane zinciphise ukumosha kwenye indawo bese zifaka okongiwe. Akukho kwalokho okudinga isinyathelo esikhulu sokubheja ngenkampani, futhi akufanele sibe yiso. Isabelo se-treasury siyisiqephu sokugciniwe, esikalwe ngokwesifiso sebhodi, hhayi ukuguqulwa okuphelele kweshidi lebhalansi.
Ukuthi leso siqephu kufanele sibe singakanani akuwona umbuzo engiwuphendula esihlokweni. Kuncike ezidingweni zokheshi zenkampani, ekubekezeleleni kwayo ingozi nasembonweni wayo wesikhathi, futhi kufanele kube segunjini nezibalo etafuleni.
Ukugcinwa kwe-Bitcoin yenkampani
Yilapha engibona khona izinkampani zinganaki. I-Bitcoin kufanele ibanjwe egameni lenkampani, hhayi ku-akhawunti yomqondisi futhi hhayi ku-wallet ye-exchange ehlanganisiwe lapho uhlamvu lwekhasimende ngalinye luhlala enqwabeni efanayo engahlukanisiwe. Umphathi wezimali wenkampani akakwazi ukuncika kulokho. I-Bitcoin yenkampani idinga ukugcinwa okuhlukanisiwe, okubanjwe ngokusobala kude nempahla yomgcini uqobo neyamanye amaklayenti, nebhalansi inkampani engazihlolela yona noma nini.
I-multisig iyimodeli efanele kulesi silinganiso, kanti i-Vault yami iyiqhuba njengesakhiwo se-2-ku-3 ukuze kungabikho qembu elilodwa elingasusa noma yini lodwa: inkampani ibamba ukhiye wokusayina, owesibili uhlala kimi njengomlenze olawulwayo ngo-CAEP Asset Managers (FSP 33933) kanti ukhiye wesithathu ozimele ungabanjwa ngokwehlukana. Inkampani igcina ubunikazi obuqondile be-bearer nokulawula okuningi. Izabelo ezinkulu zithengiselana nge-OTC nganoma yibuphi ubukhulu, nentengo yokuthola nezindleko ngerandi kubhalwe kahle ukuze isikhundla sime ngesikhathi sokufaka izimbuyiselo nasekuhlolweni kwamabhuku.
Ukwenza iphutha ngokugcinwa yilo phutha elilodwa elingeke lilungiswe ngombhalo wamabhuku.
Isibonelo esisohlwini sesikhona kakade lapha
Akudingeki ucabange ukuthi lokhu kubukeka kanjani eshidini lebhalansi laseNingizimu Afrika, ngoba sekuhwebwa kakade ku-JSE. I-Africa Bitcoin Corporation yaqoqa imali ngokukhethekile ukubamba i-Bitcoin njenge-asethi ye-treasury, yazisa abaninimasheya ngokubanjiwe futhi ikubika ngaphansi kokuphathwa kwe-IAS 38 okusebenza kuwo wonke umbiki we-IFRS. Isakhiwo sisemthethweni, ukubalwa kwamabhuku kusobala futhi kudlule ukuhlolwa kwe-exchange. Ngikubuke lokho kufakwa ohlwini ngokuningiliziwe ku-inkampani yokuqala ye-treasury ye-Bitcoin esohlwini lwe-JSE e-Afrika, kanti umbuzo obanzi wokuthi ubambe izinhlamvu ngokuqondile noma uthenge isikhwama se-treasury esisohlwini esikhundleni salokho uhamba ku-isibuyekezo sami sezinkampani ze-treasury ze-Bitcoin. Enkampanini efuna i-asethi kunesheya, ubunikazi obuqondile ngaphansi kokugcinwa okufanele buyindlela ehlanzekile, ngoba i-treasury eyakhelwe phezu kweshidi lebhalansi lomunye izuza ingozi yaleyo nkampani phezu kweye-Bitcoin uqobo.
Ukwaziswa nokuphila nokuguquguquka
Inkampani esohlwini ebamba isikhundla esikhulu kufanele yazise isimo sakho: inani elibanjiwe, isisekelo sezindleko, inani elifanele ngosuku lokubika, inzuzo noma ukulahlekelwa okungakatholakali, uhlelo lokugcinwa nenjongo. Umhloli wamabhuku uqinisekisa ukuthi izinhlamvu zikhona ngomgcini futhi ahlole ukuthi ukukalwa kwenani elifanele kuhambisana ne-IAS 38, kanti ushintsho olukhulu lungadinga isimemezelo se-SENS ngaphakathi kwesikhathi se-JSE. Inkampani ezimele iphendula emehlweni ambalwa kodwa ithwele izibopho ezifanayo ncamashi zokubalwa kwamabhuku nezentela, ngakho inkambiso iyafana nhlangothi zombili.
Phatha i-Bitcoin njenganoma iyiphi enye i-asethi ye-treasury ibhodi eliphendulayo ngayo: yiqinisekise njalo ngekota, bhala phansi kusengaphambili imibandela ongayinciphisa noma uphume ngaphansi kwayo futhi ubhale sonke isinqumo esikhulu njengoba senzeka. Ukuguquguquka yiyo ingxenye ebamba amabhodi engalindele, ngakho kala isikhundla ngalokho abaqondisi abangaphila nakho ngempela. Okubanjiwe kuka-R50 million kunganyakaza ngo-R5 kuya ku-R10 million evikini, kanti ibhodi elivumile ephepheni ukuthi lingakumela lokho kushwiba liziphatha ngokwehluke kakhulu enyangeni embi kunalelo elingakaze libe nale ngxoxo.
Thenga ngaphandle kwenkinga. Bamba ngaphandle kwezinqamuleli. Bhala konke ukuze isikhundla sisinde ekuhlolweni kwamabhuku, ekushintsheni komqondisi, noma onyakeni onzima. Yiwo wonke umsebenzi lowo, futhi awuthakaseli kunalokho izihloko zezindaba ezikusikiselayo, okuyindlela kanye i-treasury okufanele ibe yiyo.
Imibuzo evame ukubuzwa
Ingabe inkampani yaseNingizimu Afrika ingabamba i-Bitcoin ngokomthetho njenge-asethi ye-treasury?
Yebo. Umthetho wezinkampani waseNingizimu Afrika awukwenqabeli, kanti i-IAS 38 inikeza uhlaka olucacile lokubalwa kwamabhuku kulandela isinqumo se-IFRS Interpretations Committee sikaJuni 2019. I-MOI kufanele ivumele utshalomali kanti ibhodi kufanele lithathe isinqumo esilivumelayo. Ngaphandle kwalezo zinyathelo zokuphatha zangaphakathi, ayikho imvume ehlukile evela ku-SARS, ku-SARB noma ku-FSCA edingekayo ukubamba i-Bitcoin njenge-asethi ye-treasury.
I-SARS iyithelisa kanjani i-Bitcoin ebanjwe yinkampani?
I-SARS iyiphatha njenge-asethi yemali enkulu kanti isigameko sentela wukudayiswa. Lapho inkampani ithengisa, inzuzo yemali etholakele kususwe izindleko ingaphansi kwe-CGT ngezinga lenkampani elisebenzayo elingu-22.4%, okuwukufakwa kuka-80% okuthelwa ku-28%. Izinzuzo zenani elifanele ezingakatholakali ezitatimendeni zezimali azithelwa kuze kube yilapho kwenzeka ukuthengisa kwangempela. Inkampani igcina izindleko zokuqala zihlukile enanini elifanele lamabhuku futhi ibike ukudayiswa embuyiselweni yayo yonyaka.
Yiluphi uhlelo lokugcinwa oludingekayo kwi-Bitcoin yenkampani?
Izinhlamvu kufanele zibanjwe egameni lenkampani ohlelweni oluhlukanisiwe, hhayi i-akhawunti yomuntu futhi hhayi i-wallet ye-exchange ehlanganisiwe. I-multisig iyimodeli efanele, ngoba izikhiye eziyimfihlo eziningana ziyadingeka ukugunyaza noma yikuphi ukuthengiselana futhi akekho umuntu oyedwa noma isikhungo esingahambisa i-Bitcoin sodwa. Inkampani igcina izivumelwano zokugcinwa, izitatimende zezikhathi ezithile namarekhodi amahle ngokwanele ukuba umhloli wamabhuku aqinisekise.
Uyini umehluko phakathi kwenani lamabhuku nenani lentela?
Inani lamabhuku yinani elithwelwe ngaphansi kwe-IAS 38, kungaba yizindleko kususwe ukwehla kwenani noma inani elilinganiswe kabusha lapho imodeli yokulinganisa kabusha isetshenziswa. Inani le-SARS yizindleko zokuqala, ezimile kuze kube wukudayiswa. Inkampani eyathenga ngo-R5 million manje eyibambe ngo-R9 million ikhombisa inzuzo engakatholakali ka-R4 million emabhukwini ayo kodwa ayikakhokhi ntela okwamanje. Lapho ithengisa, i-SARS ithelisa inzuzo ngokumelene nezindleko zika-R5 million, noma ngabe izibalo zamabhuku zesikhashana zaziyini. Bhukha ingcingo ukuze uhlele ukubanjwa kwenkampani.
Usulungele ukubeka i-Bitcoin eshidini lebhalansi lenkampani?
I-SimplB isiza izinkampani zaseNingizimu Afrika ukubamba i-Bitcoin ngokuhambisana nomthetho ekugcinweni kwe-multisig okuhlukanisiwe, njengoMmeleli Ngokomthetho we-CAEP Asset Managers (FSP 33933).
Bhukha ingcingo ye-treasury yenkampani