Medical professionals: assessing a crypto treasury project

A professional bank balance is not automatically an amount available to invest. Start with practice expenses, remuneration, tax and social contribution deadlines, repayments and planned investment. We relate these needs to the timing of receipts and the reserves required for operations.

The practitioner’s personal funds, those of the operating entity and those of any holding company need to remain identifiable. The project starts with the entity that will actually own the assets, rather than simply the name of the director using the platform.

Individual practice, SELARL, SELAS, SCP and SPFPL structures are not interchangeable. A SEL is reserved for regulated professional practice; its specific features and professional rules need to be considered. The official SEL guide explains the framework.

The corporate purpose, statutes, required decisions and professional restrictions must be assessed with the relevant advisers. Cash held in a SEL or SPFPL does not by itself establish that a crypto investment is permitted or suitable. We prepare financial information for that assessment and coordinate questions outside the accounting scope.

Consider a practice planning to replace equipment and pay for renovations over the coming months. A high bank balance today may already correspond to those commitments, remuneration or upcoming deadlines. Before considering an allocation, identify the expenditure and timing, then examine the consequences of a fall in asset value or unavailable funds.

This exercise does not set an investment percentage. It makes constraints visible and distinguishes the continuity of the practice from an investment objective. The choice of asset, amount and time horizon requires a separate assessment of the circumstances and risks.

• Identify accounts: owning entity, platforms, wallets and authorised individuals.
• Document movements: source of funds, purchases, sales, fees and transfers between accounts of the same entity.
• Retain histories: complete exports, dated statements and supporting records.
• Prepare year-end work: asset inventory, quantity reconciliation and documented accounting treatment.
• Plan for events: shareholder changes, structural developments or liquidity needs that affect the organisation.

A transfer between two wallets belonging to the same entity must be distinguished from a transfer to the practitioner’s personal assets. Records should identify the owners and the nature of the movement; a blockchain address alone does not explain the transaction.

Depending on the engagement: a map of funds and flows, a list of required records, a monitoring timetable and the relevant accounting work. Scope, responsibilities and deliverables are agreed before starting.

For more detail, explore holding companies and crypto treasury, crypto transaction accounting and director advisory services.