ACCOUNTING AND TAXATION OF CRYPTOCURRENCY IN CONDITIONS OF LEGISLATIVE UNCERTAINTY

Abstract

Topicality. The current stage of economic development is characterized by rapid changes occurring under the influence of digitalization. One of the most characteristic phenomena of the digital economy is the proliferation of cryptocurrencies. This trend opens up new opportunities for financial transactions, but at the same time creates significant challenges for legal regulation, accounting standards and tax policy. Aim and tasks. The purpose of this study is a comprehensive analysis of the theoretical foundations, the regulatory framework, and the existing practical approaches to accounting and taxation of cryptocurrency in conditions of legislative uncertainty in Ukraine. Materials and methods. The study is based on existing works by authors that cover the issues of accounting and taxation of cryptocurrency, which allows us to study the development of this problem in the economic sphere. The methods of the system approach, general scientific methods of analysis and synthesis, comparison, classification, induction and deduction were used. Research results. The theoretical and methodological foundations of accounting and taxation of cryptocurrency were studied, in particular, an analysis of approaches to defining the concept of «cryptocurrency» was conducted, global trends in the regulation of transactions with crypto assets were studied, and the views of domestic scientists on this issue were summarized. The application of international accounting standards is justified and relevant recommendations for accounting for cryptocurrency are developed, which depend on the purpose of its holding. Conclusion. The urgent need for a comprehensive modernization of the national regulatory framework is substantiated. This includes legislative regulation of the legal status of cryptocurrency, the introduction of relevant provisions on accounting for digital assets into the NAS (National Accounting Standards), the formation of a clear mechanism for taxation of transactions with virtual assets, and harmonization of national approaches to financial reporting with IFRS (International Financial Reporting Standards).