PROBLEMS OF CRYPTOCURRENCY ACCOUNTING AND WAYS TO SOLVE THEM

Abstract

Introduction. From the moment of their emergence, cryptocurrencies have become not only a financial phenomenon but also a source of numerous challenges for accounting and analytical support of enterprise management. The rapid growth in the role of digital assets in the global economy has brought new relevance to the issue of their proper accounting. The absence of a unified methodology, regulatory framework, and clear legal definition of cryptocurrencies significantly complicates their integration into traditional financial reporting systems. Purpose. The purpose of the article is to comprehend the key problems of accounting for cryptocurrencies and to determine the main ways of solving them within the framework of existing and prospective regulatory approaches. Methods. The research employs the following methods: the analytical method – for evaluating scientific interpretations of cryptocurrency nature; the comparative method – for contrasting international and national approaches to their classification and accounting; the synthesis method – for formulating conclusions and proposals for improving accounting methodology. Results. The article reveals the multifaceted nature of cryptocurrencies as decentralized digital assets functioning based on blockchain technologies. Theoretical ambiguity regarding their legal and economic essence is highlighted, along with the absence of unified international and national accounting standards. The lack of a clear classification of cryptocurrencies in IFRS and NASs creates difficulties in their recognition, measurement, and reporting in financial statements. The volatility of cryptocurrency prices, the anonymity of transactions, and the dual use of digital assets as both goods and means of payment further complicate accounting practices and tax regulation. Current scientific discussions emphasize the necessity of adapting accounting systems to the realities of the digital economy and integrating them with blockchain-based platforms. Conclusion. The accounting of cryptocurrencies remains a complex and unresolved area of financial science. There is an urgent need to develop a coherent conceptual framework for recognizing and reporting digital assets, ensuring their transparent and comparable reflection in accounting systems. The study substantiates the priority of elaborating unified methodological approaches and legal definitions of cryptocurrencies at both national and international levels to ensure reliability, accountability, and compliance in financial reporting under conditions of digital transformation.