Cryptocurrency (Virtual Coins): Accounting Aspects and Tax Regulations

Adriana Monica Țegledi; Boni Mihaela Straoanu

doi:10.18662/wlc2021/64

Adriana Monica Țegledi Associate professor, Petroleum and Gas University of Ploiesti
Boni Mihaela Straoanu Associate professor, Petroleum and Gas University of Ploiesti

DOI: https://doi.org/10.18662/wlc2021/64

Keywords: intangible assets, stocks, currencies

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.

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