Abstract
The article considers cryptocurrency as a new type of intangible assets and the regulatory and legal support for its implementation. Particular attention is paid to defining the content, legal status, features of accounting, and taxation of transactions with such assets. The market capitalization and bitcoin forecast are analyzed. The interdependence between the exchange rate of bitcoin and pairs of the most influential world currencies, world prices for precious metals, and securities rates on the largest stock exchanges is determined. The most significant influencing factors on the bitcoin price are determined using correlation and regression analysis. The advantages of using cryptocurrencies have been identified, including high speed of transactions, reduction of the intermediaries number, and low fees. The threatening nature of the crypto-industry development for the economic potential of the state is also determined, taking into account available with current global challenges such as cyberattacks and fraud and data theft. Real fraud schemes in the field of crypto-circulation are considered. It is noted that without determining the clear legal status of cryptocurrencies in the country, it is impossible to resolve the legal, accounting and tax consequences of these transactions. It was determined that for the legal circulation of cryptocurrencies, the creation of a financial institution or a special state body, which should exercise control over the cryptocurrencies circulation, must be ensured as a minimum; introduction of taxation for companies whose activities are related to the crypto industry; establishing the obligation of users to declare their income and profits from crypto-assets, etc. Because of this, the functions of state authorities in regulating operations with cryptocurrencies are characterized, and the changes that will be introduced to the Tax Code of Ukraine are analyzed, regarding the taxation of transactions with cryptocurrencies, which in the future will make it possible to increase budget revenues, regulate and facilitate accounting and taxation of transactions with cryptocurrencies, use legal remedies for virtual assets, reduce possible tax evasion, etc.
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