METHODS OF FINANCIAL ACCOUNTING OF CRYPTOCURRENCY AS SPECIAL TYPE OF ELECTRONIC MONEY
Journal Title: Молодий вчений - Year 2017, Vol 2, Issue 42
Abstract
The article considers the current state and development outlook of electronic money systems in Ukraine. In this article we describe the accounting methodology of cryptocurrency as special type of electronic money. Different approaches to the interpretation of accounting and economic nature of cryptocurrency and its treatment in Ukraine were researched. The research also includes the analysis of latest statistic of Bitcoin market in Ukraine. Ensuring the development of cashless settlements – is one of the priority areas of the financial market, defined by Integrated Program of National Bank of Ukraine named «Cashless economy» in November 2016. The results of an analysis of national and foreign regulatory and legal framework show that national legislation lags behind the fast development of relations in the area of circulation of cryptocurrency as special type of electronic money in Ukraine. Today cryptocurrency legal status in Ukraine remains uncertain. Despite this, the National Bank of Ukraine is actively studying the experience of other countries in order to manage these relationships in the European and global context. The article provides a possible solution to the problem of counting electronic money and cryptocurrency in Ukraine. The article theoretically justifies and develops practical recommendations for improvement of the organization and methods of accounting treatment of cryptocurrency.
Authors and Affiliations
T. V. Yatsyk
Keywords
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- EP ID EP619468
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