IDEAS home Printed from https://ideas.repec.org/h/lum/prchap/17-64.html

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
    as

    Download full text from publisher

    File URL: https://proceedings.lumenpublishing.com/ojs/index.php/lumenproceedings/article/view/753/746
    Download Restriction: no
    File URL: https://proceedings.lumenpublishing.com/ojs/index.php/lumenproceedings/article/view/753
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.18662/wlc2021/64?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. David Yermack, 2013. "Is Bitcoin a Real Currency? An economic appraisal," NBER Working Papers 19747, National Bureau of Economic Research, Inc.
    2. Athanassiou, Phoebus L., 2017. "Impact of digital innovation on the processing of electronic payments and electronic contracting: an overview of legal risks," Legal Working Paper Series 16, European Central Bank.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Christie Smith & Aaron Kumar, 2018. "Crypto‐Currencies – An Introduction To Not‐So‐Funny Moneys," Journal of Economic Surveys, Wiley Blackwell, vol. 32(5), pages 1531-1559, December.
    2. Hanna Halaburda & Guillaume Haeringer & Joshua Gans & Neil Gandal, 2022. "The Microeconomics of Cryptocurrencies," Journal of Economic Literature, American Economic Association, vol. 60(3), pages 971-1013, September.
    3. White, Reilly & Marinakis, Yorgos & Islam, Nazrul & Walsh, Steven, 2020. "Is Bitcoin a currency, a technology-based product, or something else?," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
    4. Bouri, Elie & Molnár, Peter & Azzi, Georges & Roubaud, David & Hagfors, Lars Ivar, 2017. "On the hedge and safe haven properties of Bitcoin: Is it really more than a diversifier?," Finance Research Letters, Elsevier, vol. 20(C), pages 192-198.
    5. Obryan Poyser, 2017. "Exploring the determinants of Bitcoin's price: an application of Bayesian Structural Time Series," Papers 1706.01437, arXiv.org.
    6. Bouri, Elie & Gupta, Rangan & Lahiani, Amine & Shahbaz, Muhammad, 2018. "Testing for asymmetric nonlinear short- and long-run relationships between bitcoin, aggregate commodity and gold prices," Resources Policy, Elsevier, vol. 57(C), pages 224-235.
    7. Jamal Bouoiyour & Refk Selmi, 2017. "The Bitcoin price formation: Beyond the fundamental sources," Working Papers hal-01548710, HAL.
    8. Serdar Neslihanoglu, 2021. "Linearity extensions of the market model: a case of the top 10 cryptocurrency prices during the pre-COVID-19 and COVID-19 periods," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-27, December.
    9. Vasilios Plakandaras & Elie Bouri & Rangan Gupta, 2019. "Forecasting Bitcoin Returns: Is there a Role for the U.S. – China Trade War?," Working Papers 201980, University of Pretoria, Department of Economics.
    10. Jamal Bouoiyour & Refk Selmi, 2017. "Are Trump and Bitcoin Good Partners?," Working Papers hal-01480031, HAL.
    11. Qin, Meng & Su, Chi-Wei & Tao, Ran, 2021. "BitCoin: A new basket for eggs?," Economic Modelling, Elsevier, vol. 94(C), pages 896-907.
    12. Carl-Ludwig Thiele & Martin Diehl & Thomas Mayer & Dirk Elsner & Gerrit Pecksen & Volker Brühl & Jochen Michaelis, 2017. "Kryptowährung Bitcoin: Währungswettbewerb oder Spekulationsobjekt: Welche Konsequenzen sind für das aktuelle Geldsystem zu erwarten?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 70(22), pages 03-20, November.
    13. Aman, Muhammad & Ali, Amjad & Audi, Marc, 2025. "Bitcoin and Inflation: A Cross-Country Assessment of Hedging Effectiveness," MPRA Paper 127489, University Library of Munich, Germany.
    14. Arora Nitin & OsatiEraghi Asghar, 2016. "Does India have a stable demand for money function after reforms? A macroeconometric analysis," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 44, pages 25-37.
    15. Christian M Hafner, 2020. "Testing for Bubbles in Cryptocurrencies with Time-Varying Volatility," Journal of Financial Econometrics, Oxford University Press, vol. 18(2), pages 233-249.
    16. Huberman, Gur & Leshno, Jacob D. & Moallemi, Ciamac, 2017. "Monopoly without a monopolist: An economic analysis of the bitcoin payment system," Bank of Finland Research Discussion Papers 27/2017, Bank of Finland.
    17. Luis Lorenzo & Javier Arroyo, 2022. "Analysis of the cryptocurrency market using different prototype-based clustering techniques," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-46, December.
    18. Cyn-Young Park & Shu Tian & Bo Zhao, 2020. "Global Bitcoin Markets and Local Regulations," ADB Economics Working Paper Series 605, Asian Development Bank.
    19. Zhou, Siwen, 2018. "Exploring the Driving Forces of the Bitcoin Exchange Rate Dynamics: An EGARCH Approach," MPRA Paper 89445, University Library of Munich, Germany.
    20. Alexandra Mitschke, 2021. "Central Bank Digital Currencies and Monetary Policy Effectiveness in the Euro Area," Working Papers Dissertations 74, Paderborn University, Faculty of Business Administration and Economics.

    More about this item

    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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:lum:prchap:17-64. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Antonio Sandu (email available below). General contact details of provider: https://proceedings.lumenpublishing.com/ojs/index.php/lumenproceedings .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.