FINANCIAL AND TAX ACCOUNTING AND CONTROL OF VIRTUAL ASSETS: LATEST INTERNATIONAL PRACTICES AND WAYS OF THEIR IMPLEMENTATION IN UKRAINE

Abstract. The article examines the practical aspects of financial and tax accounting and control of virtual assets in Ukraine and in the international context. The relevance of the topic is driven by the rapid spread of cryptocurrencies and digital tokens in the global economy, which creates significant challenges for national accounting systems and tax regulation. The study provides a comparative analysis of the approaches under International Financial Reporting Standards (IFRS) and US GAAP regarding the classification, measurement, and disclosure of virtual assets. Particular attention is given to the new FASB standard ASU 2023-08, which introduces fair value measurement of cryptocurrencies and changes the traditional approach to their accounting as intangible assets.

In addition to the United States, the article considers the experience of selected European countries, in particular Germany and France, which actively adapt the provisions of EU regulations (MiCA) aimed at unifying the digital asset market within the European Union. The analysis also highlights the practices of Japan, one of the first countries in the world to establish a comprehensive licensing system for crypto exchanges and financial operations with virtual assets. Such an expanded comparative approach makes it possible not only to identify significant differences in the methodology of classification and measurement of crypto assets, but also to demonstrate different models of their tax treatment and regulatory oversight. This, in turn, emphasizes the complexity of harmonizing accounting rules at the international level and the need to develop unified approaches that could ensure transparency and comparability of financial information on a global scale.

The methodological basis of the study includes methods of analysis, comparison, synthesis, and systematization, which ensured a comprehensive coverage of the problem. The results of the study showed that Ukraine still lacks a unified regulatory approach to the recognition of crypto assets, which creates difficulties for enterprises, auditors, and supervisory bodies. Based on global experience, directions for developing a national methodology have been formulated, including an individualized classification of crypto assets, the use of fair value measurement, and the improvement of financial reporting standards considering the Ukrainian context. The practical significance of the study lies in identifying steps that can ensure financial transparency, reduce the risks of tax disputes, and support Ukraine’s integration into global financial markets.