The authors prove that decentralization of power and local governance reform have necessitated the reconsideration of the priorities in the rational environmental management, including resource conservation and energy efficiency at the level of amalhamated territorial communities (ATCs). Thus, it becomes necessary to transform the existing control system over the economic development of natural resource potential and environmental protection. It is substantiated that in the situation when new energy indicators are being implemented, numerous problems become mainstream, e.g. increase in the energy production output from renewable sources, e.g. solid and gaseous fuel on the basis of waste disposal. It is proved that the effective implementation of waste disposal projects is possible provided that the economic mechanism of resource conservation and energy efficiency is institutionalized at the level of ATC, which will provide budgetary, fiscal and credit prerequisites to increase financial support for modern waste management industry. The research carries out shows that in 2007–2021, the dynamics of the real volume of local budget expenditures on waste disposal has been declining, due to the lack of interest among local authorities in financing resource conservation and energy efficiency projects. It is established that the achievement of positive results in the financing of waste disposal directly depends on pooling part of the rent for the special use of natural resources and environmental tax in special funds within local budgets. It is substantiated that targeting natural resources and environmental payments accumulated in local government budgets will increase funding for waste disposal, thus increasing the use of the material substance of household waste and waste from agricultural and forestry production to produce solid and gaseous fuel. It is proved that the state should provide incentives for local governments to enhance resource conservation and energy efficiency based on waste disposal due to participation in financing and indirect promotion of such projects.
The article substantiates the prerequisites, prospects and advantages of creating an innovation ecosystem at different levels of its formation. The main approaches to defining the essence of the concept of innovation ecosystems in both domestic and foreign specialized literature and their adaptability to the regional level are analyzed and grouped. The harmonious innovation ecosystem is a sign of a progressive society, which is identified by the symbiotic functioning of people and organizations, the result of which is the production of conscious innovations. The author outlines the stages of formation of the regional innovation ecosystem, the circle of its participants and ways of their interaction. For each stage, the procedures for its implementation, the main characteristic features and processes of transition from one to another are determined. The main feature of the creation and functioning of the regional ecosystem is the stable, constant interaction of its participants with educational and scientific institutions, as well as the adaptability of these institutions to the variability of the external environment. The article describes certain elements of foreign experience in the development of regional ecosystems and their implementation in Ukraine. Awareness of the existence or prerequisites for creating an effective regional ecosystem is the first step towards effective regional management and activation of the potential of the national economy. On the one hand, in the context of decentralization, local self-government bodies get maximum freedom in creating organizational elements of the regional innovation ecosystem, supporting scientific and human resources and the communication business environment. The author emphasizes that without the State support it is impossible to create conditions for the protectionism of innovation activity, to activate investment potential, to stimulate the necessary forms and methods of financing the relevant activity. Therefore, work at the regional level in terms of innovation should be carried out simultaneously following two directions of the hierarchy: from bottom up and from top to bottom in constant cooperation and coordination of own actions. As a result, priority directions of the State and regional support for the development of regional innovation ecosystems on the basis of the main specific platforms or technologies are substantiated.
It is determined that school as a center of human capital formation, and as an institution requiring effective funding and management is the asset of the territorial community development. The main problems of the development of educational network of territorial communities in Lviv region related to the inconsistency of the educational network development to the demographic situation in the region, as well as the inefficient management system of educational institutions are identified in this paper. Non-optimized educational network is a burden on the development of the local community, as the community is forced to spend its own funds to finance educational needs, which in turn limits the funding of other activities, including infrastructure expenditures, development expenditures which are important for community life. The implementation of administrative and territorial decentralization reform faciliated the strengthening of local authorities role in educational infrastructure management, the increase of educational institutions autonomy and active public involvement in solving the problems of their management. The main tools for optimizing the educational network of local communities in the context of decentralization reform are identified and analyzed in this paper. The author considers them as: change of the principles of funding and transition to «funding per student», use of educational subvention and quantitative criteria for funding schools from the state budget, formation of educational districts and support institutions. Compared to other regions, Lviv region has dynamically reformed its educational network. However, the united territorial communities of Lviv region are less active founders of basic educational institutions than districts, and the students who study there, demonstrate lower level of knowledge in the assessment of the state final attestation and externally independent assessment. The influence of the educational subvention on the changes of the educational network in Lviv region is determined. It is determined that the use of buffers in the calculation of the index of financial capacity of the school network in 2021, significantly affected the level of differentiation of the index of financial capacity. This approach can be an obstacle to the optimization of the school network.
The article aims at assessing cryptocurrency dynamics in global economy; studying the prospects and risks of its use in business activities; suggesting approaches to recognize, record and value cryptocurrency in the accounting system of domestic enterprises. The article considers the prospects and risks of using cryptocurrencies by domestic businesses and identifies the importance of developing digital assets at an enterprise. The urgency of developing such accounting and of the necessity to manage cryptocurrencies at an enterprise is substantiated. It is established that the attitude to cryptocurrency and the level of development of the regulatory field significantly vary from state to state, and thus international regulations govern neither the use of nor accounting for such assets. The article substantiates the compliance of cryptocurrency with the recognition criteria for enterprise assets, thus making it necessary and possible for an enterprise accounting system to recognize cryptocurrency. The authors substantiate the options for attributing cryptocurrency to various types of enterprise assets. Due to the lack of regulation of cryptocurrency accounting at the legislative level, guidelines are suggested for the cryptocurrency accounting process, which include options for classifying cryptocurrency depending on the purpose of its use, namely: classifying cryptocurrency as intangible enterprise assets, but distinguishing between current and non-current assets, and monetary and non-monetary ones. Each of these options is accompanied by the use of separate accounts and the order of recording the valuation, use and disposal of cryptocurrency. Necessity to revalue cryptocurrencies due to their high volatility is substantiated. It is suggested to conduct revaluation of cryptocurrency to ensure objective valuation of assets and that of the enterprise in the form of revaluation (increase/decrease in the value) and by determining exchange rate differences.
Introduction. The digitalization of the economy is closely linked to the formation of an effective legal framework. Any development or operation of digital instruments must be accompanied by appropriate financial and legal regulation. The study of the functioning of digital financial assets allowed us to conclude that, unfortunately, their rapid development is observed against the background of the lag of regulatory regulation of the relevant legal relations that are formed as a result of such activities. A critical scientific analysis of international experience in the field of financial regulation of cryptocurrencies has identified a number of key generalizations. The purpose of the article is to identify the main markers of digital financial assets, study international experience in financial regulation of virtual assets, including cryptocurrencies, identify opportunities to implement positive foreign practices to Ukrainian realities and diagnose the current state and prospects of cryptocurrency in Ukraine. Results. The specific characteristics of digital financial assets are substantiated, namely: freedom of issue, availability of cryptocurrencies, absence of intermediaries, high degree of protection, openness to developers, integration with the latest technologies that produce new digital products. The international practice of state regulation of cryptocurrencies is generalized in terms of both the interpretation of the conceptual apparatus and in view of the qualification of the mechanism of conducting operations with digital assets. It is proved that in Ukraine from the point of view of legal regulation of cryptocurrency is still outside the full framework of the legal field of domestic legislation. The main innovations and specifics of regulation of the market of virtual assets in accordance with modern Ukrainian realities are determined. Conclusions. The difference between national laws in the field of regulation of virtual assets is proved. It is argued that the main vector of regulation is aimed at strengthening control over the transparency and accountability of transactions with virtual assets, cybersecurity and mandatory user verification. The main directions of increasing the settlement and trust in virtual assets are formulated: production of standards and rules of cryptocurrency circulation, in order to bring it to the rank of a competitive means of payment; consolidation of the official status of cryptocurrency; formation of an open ecosystem through effective interaction of all participants in the process of buying / selling cryptocurrency; formation of a legal trading platform for cryptocurrency circulation; support of information literacy of the population to understand the benefits and risks of virtual currency etc.
Purpose. The aim of the article is elaboration of theoretical and practical aspects of definition and functioning of cryptocurrencies as money. Methodology of research. The following methods were used in the study: statistical analysis and comparison – in the study of problematic aspects of the definition of cryptocurrency as a kind of money; logical assessment – in substantiating the principles of determining cryptocurrency as a kind of money; generalization – in the process of formulating conclusions based on the results of the analysis. Findings. It is established that money is a financial asset with high liquidity, which can be quickly converted into paper money or coins, serve as an intermediary in money circulation (i.e. play the role of equivalent in exchange) and can be used for savings and therefore anything that can function as money, are money (including cryptocurrency coins). It is substantiated that cryptocurrency coins, as a type of money, perform the following functions: there is a potential to perform the function of a measure of value after reducing the significant volatility of the value of cryptocurrencies; partly as a medium of exchange due to high volatility, regulatory resistance and low prevalence, but prevalence will increase as traditional payment systems begin to integrate cryptocurrencies, cryptocurrencies have high convenience and inclusiveness, have the potential to reduce transaction costs, increase settlement speeds, develop cryptocurrency markets and increasing their prevalence; due to opposition from ESG investors and regulators, low confidence from a significant number of citizens (especially over the age of forty) and a significant speculative component of cryptocurrency coins, only partially serve as a means of accumulation, however, the demand for cryptocurrencies from investors is constantly growing. Originality. The definition of cryptocurrency (cryptocurrency coin, cryptocoin) as a new digital type of money, which can measure the value of goods, services and other currencies, used for circulation, savings and investment, protected by cryptographic code with the inability to counterfeit or copy, and issue which everyone has the opportunity with the Internet and the necessary equipment with complete anonymity of the issuer (miner). Practical value. The main results of the conducted study will create favourable conditions for a better understanding of cryptocurrency as a new type of money, which will allow them to be more widely used in the economic activities of businesses and countries. Key words: money, cryptocurrency, cryptocoin, cryptocurrency coin, mining, cryptocurrency functions, Ethereum, Monero, monetary aggregate.
Vasyl A. Holian, Nataliia Medynska, Yu.B. Zastavnyy
It is determined that the economic mechanism of economic management of the nature is a set of methods, means, instruments and forms of budget-tax and financial-credit regulation of economic development and use in the reproduction process of the natural component of national wealth, as well as the implementation of activities aimed at the reproduction of natural resource potential and environmental protection. It is substantiated that in the current socioeconomic and political-legal conditions, the economic mechanism of economic management of the nature operates with an overly narrowed specification of methods and instruments, which makes it impossible to fully ensure a sufficient level of financing for the implementation of environmental projects and priorities for expanded reproduction and enhance of the natural resource potential. It is proved that in the unfavorable conditions of the European natural gas market for the national economy and crisis phenomena caused by the curtailment of business activity due to the spread of the coronavirus pandemic, budgetary opportunities for financing environmental expenditures are limited. Researches have shown that in the dynamics of the real value of environmental expenditures of both the State and local budgets in 2002-2020 in general, there is a downward trend, which indicates a real decrease in the volume of public financing of environmental protection. It is substantiated that due to the deregulation of land relations, that is, the transfer of the State-owned agricultural land outside settlements to communal ownership, additional resource opportunities have been formed to increase the efficiency of the use of instruments of the economic mechanism of economic management of the nature at the local level. It is determined that in the conditions of an overly unified system of budget and tax regulation of economic management of the nature and limited opportunities for financing environmental activities, ensuring a high level of efficiency of functioning of the economic mechanism of economic management of the nature at the local level requires the installation of a complex of incentives into the range of its instruments and methods. Such incentives will orient the entities of agrarian entrepreneurship to the introduction of additional capacities of organic farming, organic cattle breeding and organic feed production. It is substantiated that such incentives are represented by tax and budget preferences.
Introduction. Cryptocurrency is a relatively new financial market instrument, but due to a lack of the fundamental principles of the legal regulation and legal regulation of market of cryptocurrency, individuals and legal entities, who have at their disposal the virtual assets are effectively deprived of an effective way to protect their ownership of such assets. The following key features of cryptocurrency are outlined: lack of control and restrictions on financial transactions, anonymity, the possibility of using it as an investment tool, the speed of transactions, a high degree of security. The purpose of the paper is explores the question of definition of legal essence, the maintenance of cryptocurrency is investigated. Results. Nature and legal uncertainty does not allow it to be identified with any of the related concepts (money, securities, currency value, means of payment, currency, money surrogate, etc.). That is, cryptocurrencies are currently in Ukraine outside the scope of legal regulation. The analysis of definition of a concept of cryptocurrency in the draft law on circulation of cryptocurrencies in Ukraine is carried out; prospects for the legislative implementation of cryptocurrency in Ukraine, in addition, the author draws attention to the novelties of the legislation on financial monitoring, namely certain provisions of the Law of Ukraine “On Prevention and Counteraction to Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing of Weapons of Mass Destruction Proliferation”. Conclusion. The analysis of the characteristics of cryptocurrency leads to a conclusion that the cryptocurrency can be understood as electronic money. The paper presents a vision of further trends in the use of cryptocurrency in everyday life and business environment, opens up an opportunity for further research in the field of the cryptocurrency market, further development of Ukraine and integration to the world financial system.
The article discusses the topical issue of the present day: decentralization and its budget efficiency (on the example of the Pavlivska amalgamated hromada in the Volyn region). A significant feature of decentralization today is voluntary association with other territories in order to improve living conditions and development of the area. Decentralization facilitates the improvement of investment climate, forms an efficient environment for attracting investments and financing the activities of Ukrainian regions. That is why decentralization allows amalgamated hromadas to reveal their internal potentials. The result of local self-government depends on the appropriate use of financial resources, independent resolution of regional issues. The publication uses indicators of budget self-sufficiency, budget effectiveness, budget transparency to analyze the budget efficiency of the territorial community, based on an assessment of the level of implementation of the distribution and redistribution of the local budget of the amalgamated hromada. Budget self-sufficiency demonstrates how the territorial community can develop itself, budget effectiveness is responsible for the expenditure part and the result of these costs, and budget transparency — for insightfulness and openness of information for citizens. The introduction of decentralization aims to improve the system of management of territorial communities and the system of administrative and territorial structure of the country, with the improvement of the state of residence and development of citizens regardless of their place of residence. With the help of decentralization, the investment climate of the country is improving and an efficient environment is being formed to attract foreign and domestic investors. Financing of territories allows opening up new opportunities for the evolvement of amalgamated hromadas.
Introduction. The new financial support mechanism defined by the relevant laws of Ukraine, the introduction of national accounting standards and a chart of accounts for the public sector, decentralization and other transformation processes have significantly influenced both the education financing system and the organization and methodology of accounting. But the desire to improve these systems currently does not fully correspond to the existing realities and requirements, including modern management. The purpose of the article is to study the mechanism for the formation and use of financial support for educational institutions - colleges in the context of organizational and accounting aspects, as well as the development of proposals for their clarification and improvement (including accounting policy). Methods (technique). The study uses general scientific methods, including theoretical generalization and analysis - to identify the specifics of financing educational institutions in the context of transformational changes, modeling - in order to form an effective financing mechanism and develop accounting policies to regulate alternatives that exist in the financial provision of educational institutions. Results. According to the results of the study of the current legislation, it was established that financial support of state institutions of professional higher education is carried out at the expense of the state (or local) budget on the basis of a state (or regional) order for payment for training services. There is also the possibility of financing from other sources not prohibited by law, with the obligatory observance of the principles of targeted and effective use of funds, publicity and transparency of decision-making. Based on the results of the research, a model of financial support for educational institutions was built, taking into account additional sources of funding, which are divided into external and internal, and also justified recommendations for the development of accounting policies for their reflection in accounting.
Introduction. One of the indicators of society's development is the current system of social protection, its effective organization ensures the stable development of society. In the context of decentralization of budgetary powers, local authorities become guarantors of social protection and direct providers of public services, whose main task is to provide citizens with an adequate level of social protection, which is carried out in accordance with state standards. The purpose of the article is to research of the social protection of the population in the conditions of budget decentralization and substantiation of proposals for its improvement in terms of improving the efficiency of social services. Results. The centralized and decentralized models of social protection in Ukraine were considered. The powers of central and local authorities in the implementation of social protection and the provision of social services were systematized. The dynamics of expenditures on social protection from the state budget, local budgets and state extra-budgetary funds was analyzed. Data on changes in the distribution of expenditures between state and local budgets were presented. Conclusions. The main directions of financing the social protection system were indicated. The advantages of the decentralized model of public services over the centralized one were emphasized. In the context of improving the effectiveness of social protection and the quality of social services, it is proposed to reduce the hierarchical network of budgetary institutions in the field of social services, monitoring and analyzing the number of socially vulnerable groups and providing social services on a competitive basis. The implementation of the proposed measures will improve the social protection system and will allow more rational use of public funds.
Олександр Сергійович Омельчук, О. С. Омельчук, Александр Сергеевич Омельчук, Oleksandr Serhiyovych Omelchuk · 13 authors
The article analyzes the legal nature and specific of legal regulation of cryptocurrency in order to reveal the features of inheritance of cryptocurrency assets. The article aims to reveal whether it is possible to inherit cryptocurrency in terms of the existent legislation and if so, what kind of peculiarities of cryptocurrency should be considered. The financial and legal nature of cryptocurrency are described in the article. The main differences between cryptocurrency and traditional electronic money are revealed. The current legislation of Ukraine and some European countries on cryptocurrency legal status is analyzed. It is stated, that in most countries of the world, cryptocurrency is not considered to be money or currency, but rather a kind of property. It is noted, that while solving the issue of inclusion of cryptocurrency assets in the legacy, it is necessary to take into account the functional features of cryptocurrencies in general and the specifics of a particular type of cryptocurrency. Most of the benefits of cryptocurrencies for their owner (such as anonymous character) are obstacles to their inheritance according to the procedures provided by applicable law. The classification of the methods of inheritance of cryptocurrency assets is made in the article. The differences in the inheritance of cryptocurrency and tokens are revealed.
The article investigates the main ways of financing general secondary education institutions in Ukraine and developed foreign countries. The main world models of education financing are considered. The foreign experience of management and financing of general secondary education is generalized. Some measures are proposed to eliminate problems with the allocation and use of financial resources for education. The purpose of the study is to identify the features of the system of financing of general secondary education at the present stage and to outline the directions of its reform in the conditions of decentralization and administrative reform based on foreign best practices. The article presents the main models of financing education in different countries. The main problems characteristic of the education sector are identified. There is an imperfect funding mechanism, based on directing funds for the maintenance of general secondary education, rather than on ensuring the quality of education in accordance with the principle of «money follows the child», lack of incentives and opportunities for professional development of teachers. The analysis shows that, despite the reform of general secondary education in Ukraine and the planned positive changes and new opportunities due to administrative and financial decentralization, there are a number of factors that negatively affect the financial security of the education sector. These include: shortage of professionals with experience who could implement new powers and manage the distribution of financial resources on the ground, irregular receipt of budget funds and non-transparency of their distribution at the regional and local levels, corruption in education authorities, low financial capacity of communities, imperfection legislation, conflicts over school closures. Therefore, a special role in the process of reforming education should be played by the system of management and control over the activities of budgetary institutions for the efficient use of financial resources of the state. To improve the situation at this stage, the policy of financing education should be formed in accordance with the Constitution of Ukraine, which regulates the allocation of at least seven percent of GDP for education and socio-economic feasibility of budget expenditures. It is expedient to reform general secondary education by combining domestic and world experience.
Annotation. The article is aimed at the study of cryptocurrency systems and methods of their classification by various properties and characteristics. Despite the active study of cryptocurrency systems by modern scholars, there is still no general consensus on the categorization of classifications. The result of this ambiguity is a general lack of practical understanding of the various forms of cryptocurrency at both the consumer and government levels around the world. The consequence of the article is the division of the whole set of cryptocurrencies to correct this ambiguity. The author has developed a generalized classification of cryptocurrencies, which is designed to fill certain gaps in the study of cryptocurrencies. The most important classification features are revealed and the table of classification of cryptocurrency systems is made, where cryptocurrencies are divided into types and subspecies. The purpose of the article is to develop a detailed classification of cryptocurrencies based on the systematization of existing knowledge about cryptocurrency systems. Nowadays, there are more than 2,000 cryptocurrency systems in the world. And the rapid development of these systems in recent years has forced many not only scientists but also ordinary people to study this area in more detail. Cryptocurrency is the evolution of financial technologies and cryptographic methods. The emergence of the first cryptocurrency - bitcoin led to the creation of new cryptocurrencies, which necessitated their systematization. Cryptocurrencies should be divided into groups according to their features and characteristics in the following categories: purpose, issue size, viability, originality, centralization, availability of innovations, method of rotation, legal status, type of creation, method of production, generation algorithm, encryption method, speed, scope application, degree of dependence, security, volume of capitalization, market value. The algorithms for generating cryptocurrency systems, in particular Proof-of-Work and Proof of share, are considered. The analysis shows the diversity and versatility of cryptocurrency systems. Key words: cryptocurrency, classification, virtual assets, bitcoin, mining, fork.
This article addresses issues related to recognition, evaluation and reflection in accounting cryptocurrency in accordance with IFRS. Should be noted, that there is currently no specific IFRS standard that would disclose these issues. The article also discusses the debatable issues of recognition in the accounting of crypto-currencies. However, this article discusses the possibility of recognizing cryptocurrency as an asset and the way of application of IFRS for evaluation and recording of the cryptocurrencies. In this situation, it becomes necessary at the regulatory level to consolidate the rules for accounting for cryptocurrencies. This can be done in various ways, for example: to introduce additions to a number of International financial reporting standards, or to elaborate a separate IFRS that would disclose the features of accounting for cryptocurrencies.
The article focuses on the relevance of establishing legal norms for virtual currency, which is currently working in the gray zone. The article substantiates why cryptocurrency was referred to other property in the framework of civil law. The issues of referring cryptocurrency to such objects of civil rights as monetary funds, currency values, securities, intellectual property, intangible assets, etc. are considered in detail. Based on a comprehensive analysis, the classification of cryptocurrency as a different property within the framework of civil law is substantiated. The author's definition of cryptocurrency is given as a cryptographically protected property with signs of cryptographic authentication, decentralization, management through consensus, and the use of distributed ledgers. The economic essence and legal status of the cryptocurrency proposed by the authors emphasize the exclusively digital version of the existence and use of this object, indicates the possibility of the turnover of this asset, delimits the concept of cryptocurrency, non-cash and electronic money. The definition of a crypto asset as property makes it possible to develop tax legislation, since the implementation of cryptocurrency is close to investment instruments, which makes it possible to clarify the issue of paying such a tax as VAT. Cryptocurrency as property describes not the thing itself, but the legal relations associated with it, that is, those rights that, according to the rules of law, can be exercised. The article also raises one of the main issues that must be resolved - this is the recognition of ownership of this specific type of property. According to the authors, the starting point for determining the ownership of the cryptocurrency should be that the subject of the right will be the owner of this asset if he legally gained access to the private key by analogy as the subject acquired the ownership of a tangible asset on a legal basis.
Олена Тодорівна Прокопчук, Y.V. Ulyanych, S. Ptashnyk
Reform of local autonomy and local organizational power has been fully initiated in Ukraine since 2015. Decentralization is one of the biggest changes in the process of European integration, aimed at forming a real local autonomous government, starting from the basic level — united communities. The newly formed community of the united territories must be able to provide the existing government and provide public services at the appropriate level. The main level of socio-economic stability in the administrative region largely depends on the correspondence and balance between the received financial resources and powers. It is expected that the introduction of the agricultural land market may lead to significant changes in the tax structure of integrated communities. The status and trends of formation and development of local budgets are influenced by certain provisions of the regulatory framework. Currently, the revenue side of the local government budget relies too much on government programs and grants, which complicates the work of local communities in the process of self-stimulating their economic development. At the same time, it is proved that special attention should be paid to the search for additional revenues to local budgets, which would compensate for the expected losses from the personal income tax on shares. It is also necessary to take measures to improve the administration process and ensure the proper implementation of the fiscal function of local taxes and fees. In particular, there is an objective need to study the possibility of transferring the administration of certain local taxes and providing access to relevant registers (in the case of property tax) to local governments, which will ensure adequate local tax revenues to relevant budgets and partially address the tax debt.
Cryptocurrency is a virtual digital currency. The main reason for the popularity of digital currency is its decentralization and the peculiarities arising from it. Austrian economist and philosopher Friedrich August von Hayek In the 1970s, he became interested in the benefits of money-laundering by the state and began exploring the possibilities of alternative currencies. In 1976 he published the book: Denationalization of Money: An Analysis of the Theory and Practice of Concurrent Currencies. According to Hayek, the state monopoly on the issue of money should be abolished, he writes: The special right of the country's governments to issue and regulate money could not help the society to receive much better money than it would have without the intervention of governments. It was this work by Hayek that prepared the ideological basis for the creation of decentralized digital currency. The purpose of creating a cryptocurrency is to get rid of the directives of central banks. If cryptocurrencies are created by the governments of countries, the basic idea of creating a virtual currency that virtual capital in the Internet space must be beyond the control and regulation of the government is lost. It is in this fundamental idea that the best degree of freedom is best seen, the increased degree of human dependence on free money, which raises many questions, namely: What is the philosophical concept of creating cryptocurrency? What worldview feeds the existence of cryptocurrency? Does the existence of cryptocurrency have an intellectual basis? What is the future of this venture? What principles or obligations should the government follow when talking about cryptocurrency? Is the world preparing for a single currency? The term decentralized digital currency has great appeal, the freedom to depend on money on this scale has long been awaited by mankind, despite the fact that we have numerous examples of independent money making in the world. Can cryptocurrency free us from default? The answer to this question is heterogeneous. One group of experts believes that they do not see default in the crypto world at all, because there will be no need to attract capital by traditional methods, there will be no need for long-term commitments, no bonds will be needed, we will move from the industrial era to the service era, cryptocurrencies. Wall Street positioners even call this view futuristic and say that bonds are a structure of contracts and rules that are not in the crypto world. In our opinion, this may be the traditional paradigm of the attitude of the old representatives of the financial world to the crypto industry. There have been serious tectonic shifts in recent geoeconomics, such as Brexit, the struggle for Catalan independence, the Donald Trump phenomenon, the Recep Tayyip Erdogan factor, and so on. All this breaks the old economic models that we previously thought were unalternative. In the final part of the research topic, we discuss the pros and cons of cryptocurrency, namely that the exchange rate of any cryptocurrency fluctuates rapidly in a very short period of time, there may be a complete depreciation of a particular currency, nothing can prevent it, Return is virtually impossible because the transactions are anonymous, there have been numerous cases of cryptocurrency exchanges in the world, it is practically impossible to investigate the fact, due to the anonymity of these transactions, cryptocurrencies are not secured by any assets, unlike shares they do not allow buyers or property. Against this background, it is interesting to see what place cryptocurrency will occupy in the new currency system. The fact is that virtual finance is a new word in online technology that will change in the future, no matter what the new model of running the economy.
Annotation. Introduction. At the present stage of development of the world is the rapid functioning of all spheres of society. Based on this, today society seeks to be progressive, modern, and therefore the world introduces us to a new type of money that is gaining popularity – cryptocurrency. Currently, humanity is aimed at finding a more progressive way of realization of any financial transactions with minimal risk. Now, the cryptocurrency is in the same city, where was the first paper money during the popularization of the concept of “printing money”. That is why, after a certain period of time cryptocurrency calculations become commonplace. Purpose. The purpose of the study is to consider cryptocurrency as the currency of the future financial system and possible prospects for its future development in Ukraine and the world. Results. The article discusses the theoretical aspects and history of cryptocurrency as currency future financial system. The main types of cryptocurrencies, the process of their creation, which is based on the solution of computers to complex mathematical problems and their entry into the market, are identified. The advantages and disadvantages of using cryptocurrencies are studied, as well as its feature as decentralization, which distinguishes it from other currencies. It is emphasized that in the world, so far, there is no consensus on the further strategy for the development of cryptocurrency in the world, its legalization and legality of use, thus analyzing the legal status of cryptocurrency in different countries and prospects for use. The legal regulation of cryptocurrencies in Ukraine in accordance with the norms of Ukrainian legislation is considered. The peculiarities of the functioning of virtual currencies in Ukraine are highlighted. Conclusions. Cryptocurrency inevitably and actively popularized worldwide in furthering decade. In some areas, such as online gaming business, this kind of currency has found its application in full. In Ukraine, there is everything necessary for legal operations with cryptocurrencies, but it is at the legislative level that there is a problem that prevents the active distribution and use of such currencies. The situation when cryptocurrency is not banned, but also not allowed, is an additional reason for fraudulent schemes. Legal entities and individuals who want or are able to use cryptocurrency is not protected. Similarly, the state can not get taxes from prospective activities. That is why the need for a clear establishment of the concept of “Cryptocurrency” by the law of Ukraine and the creation of mechanisms for regulating any activity with cryptocurrencies at the legislative level, are the priority state tasks at present. Keywords: cryptocurrency; currency; bitcoin; mining; digital currency; the legal status.
Annotation. Introduction. Decentralization of power requires the creation of united territorial communities, which should develop strategies for their own development, with the main directions of society development, tasks, prospects for improving the quality of life of the residents of community. In conditions of fierce competition for investment resources, territorial communities, are united, while developing strategies, they must show the peculiarity of their community – local identity, which is the basis for positioning each community. Purpose. The purpose of the article is, monitoring strategies for the development of united territorial communities in the context of the use of identification tools on the example of Kharkiv region. Results. To assess the impact of strategy results on life communities should constantly monitor the effectiveness of implemented programs and projects. The article monitors the development strategy of the united territorial communities of Kharkiv region and identifies the features of each community that must be taken into account in conditions of fierce competition for investment resources, as well as identifies tools to form a positive image of united territorial communities Conclusions. The region has a fairly good education rating of the united territorial communities, which was influenced by the high rates of their population. All the communities of the Kharkiv region, which have been functioning for more than one year, have a stable growth of the resource base, and the vast majority of them do not receive subsidies, on the contrary, they pay a significant reverse subsidy. At the same time, they are also characterized by an increase in the share of expenditures for the maintenance of the management staff in financial resources and a sharp dynamics of capital expenditures, which does not correlate with the growth of budget revenues. At the same time, they are also characterized by an increase in the share of expenditures on the maintenance of the management staff in financial resources and abrupt dynamics of capital expenditures, which does not correlate with the growth of budget revenues. Based on the results, the main identification tools are identified, namely area, population (including demographic structure), income and expenditure level, financing structure, structure of business entities by type of activity and income level, number of social infrastructure facilities, the level of employment and unemployment in the community, the share of agricultural land in the region; the number of enterprises in the region by type of activity; unique name; minerals; the share of certain industries in the region; favorable conditions for tourism development (green, medical, hunting, etc.). The definition of these instruments is the basis for assessing the socio-economic development of society, investment attractiveness. Keywords: united territorial community; strategy, monitoring; tools; identification.
Introduction. In the context of reforming the system of local self-government and territorial organization of power, the use of world best practices in the context of decentralization and implementation of best foreign practices in shaping the finances of territorial communities and their associations is of paramount importance. Accordingly, a number of important theoretical postulates of domestic financial science need to be reconsidered through the prism of improving existing and developing the latest conceptual approaches to the functioning of the finances of united territorial communities (OTG) using international advances in this area. local development.Purpose. Given the limited theoretical and practical work of domestic scholars on the finances of the united territorial communities, the purpose of the article is to use the best world practices to improve the efficiency of OTG finances.Methods. The methodological basis of the study are general scientific and economic- statistical methods: analysis, synthesis, statistical method - to study the international experience of OTG finance reform; inductions, deductions - to determine the directions of development of OTG finances in Ukraine; abstract-logical, economic-mathematical - for estimating revenues and expenditures of local budgets of OECD countries. Results. The world experience of reforming the finances of territorial communities is considered. In the context of application of the best international practices the directions of development of finance of OTG in Ukraine under modern conditions of carrying out financial decentralization are offered. Estimates of revenues and expenditures of local budgets of OECD countries were assessed, which allowed to determine priorities in revenue generation, expenditure optimization, distribution of powers and functions, as well as the use of new sources to increase the revenue base of local communities and their associations in Ukraine. Discussion. The prospects for further research is to develop a model for optimizing the financing of OTG development in order to ensure the implementation of its own powers and functions.
Introduction. Cryptocurrency and related activities in Ukraine are not regulated by specialized law. Transactions with currency «crupto» are increasingly used in the accounting practice of domestic enterprises. The correctness of an accounting of such transactions is influence on actuality of the financial statements, the completeness of the taxes payment and the amount of income and profits of enterprises.The main aim is to analyze the peculiarities of the formation and movement of cryptocurrency, its recognition as an object of accounting, justification for further accounting evaluation and impact on performance.Methods. Methods observation, comparison, analogy, grouping and classification, abstraction and specification, analysis and synthesis, tabular and structural-logical methods are used. The information base of the research is the scientific achievements of domestic and foreign scientists and specialists, own experience and observations.Results. The definition of cryptocurrency as an object of accounting and a source of economic benefits is considered. The possibilities and advantages of cryptocurrency using in different spheres of economy are determined and systematized. The role and significance of cryptocurrency with the functions of money are compared. The possibility of classifying cryptocurrency as a certain type of enterprise assets in accordance with IAS and UAS (P(S)BO) is analyzed. The peculiarities of valuation and accounting of cryptocurrency as an intangible asset are substantiated. The problems of taxation of cryptocurrency transactions are identified and certain solutions are proposed until the regulatory settlement of this issue.
Despite all the fears surrounding cryptocurrencies, the rates of transactions increased and became an undeniable reality, and with the developments of the events that the world is going through, especially since the emergence of the new Corona virus and its declaration of a global pandemic, several important questions have emerged regarding dealing in these currencies considering the current epidemic. This study aims to know the extent to which dealing in cryptocurrencies has been affected by the emergence of the new Corona virus, and will it become a haven for transactions considering the closure decisions adopted by the countries of the world, or whether the uncertainty of the current situation increases the fear of dealing with it, especially as it depends on the forces of demand and supply. The study found that transactions in these currencies decreased at the beginning of the crisis, due to fears of a depreciation in their value, which prompted individuals to sell them on stock exchanges, but with the policies of closure and travel ban, dealing in these currencies increased again. Central banks tended strongly considering this crisis to think about maximizing benefit from dealing in these currencies.