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Cryptocurrency (Virtual Coins): Accounting Aspects and Tax Regulations

In: World Lumen Congress 2021

Author

Listed:
  • Adriana Monica Èšegledi

    (Associate professor, Petroleum and Gas University of Ploiesti)

  • Boni Mihaela Straoanu

    (Associate professor, Petroleum and Gas University of Ploiesti)

Abstract

Lately, there have been many questions from specialists regarding the accountability of cryptocurrency. The lack of a legislation has allowed them to be interpreted as either intangible assets or stocks, even though Romania owns the biggest transaction platform in Eastern Europe (Bitcoin Romania). National Bank of Romania (NBR) acknowledges the lack of regulations and supervisions regarding cryptocurrency, regarding them as “speculative assets, extremely volatile and risky†. Simultaneously, this brings to attention the fact that these are not national coins nor currencies, and accepting them as a payment method isn’t, legally speaking, mandatory.

Suggested Citation

  • Adriana Monica Èšegledi & Boni Mihaela Straoanu, 2022. "Cryptocurrency (Virtual Coins): Accounting Aspects and Tax Regulations," Book chapters-LUMEN Proceedings, in: Antonio Sandu (ed.), World Lumen Congress 2021, edition 1, volume 17, chapter 64, pages 650-657, Editura Lumen.
    • Handle: RePEc:lum:prchap:17-64
    DOI: https://doi.org/10.18662/wlc2021/64
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    More about this item

    Keywords

    intangible assets; stocks; currencies;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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