The written policy
One document, board-approved: which assets the company holds and why, concentration limits, who can move funds and with how many signatures, stablecoin and fiat buffers, and the rebalancing rhythm. The policy is what banks, auditors and — for licensed firms — supervisors ask for first: the MiCA context.
Custody and controls
Multi-signature or qualified-custodian architecture with named key holders, hardware separation, and a recovery procedure that survives any single person — documented like the security exercise it is. Operational wallets small, treasury wallets cold, movements logged against the policy.
Books and tax
Tokens enter the books at acquisition value; results realise on disposal and at year-end positions per the accounting policy your bookkeeper actually documents — the difference between an audit and an argument. Tax follows the corporate layer: profit at 19% to €200,000, the holding above pooling toward exits (the skeleton), and the founder’s private sphere kept deliberately separate: the founder’s map. Grants from treasury to team route through payroll or the participation plan — papered, every time: the certificate route.