MODERN TAXATION PRACTICE OF TRANSACTIONS WITH CRYPTOCURRENCIES

Abstract

The development of cryptocurrency operations requires a comprehensive approach that includes several key aspects. First of all it is necessary to provide clear legal regulation that will determine the status of cryptocurrencies, the procedure for their use, as well as requirements for cryptocurrency exchanges and payment systems. The second important element is an effective taxation system that will take into account the specifics of operations with digital assets, in particular, mining, trading and investing, which will help to avoid double taxation and other financial complications. The article is devoted to the analysis of the modern taxation practice of operations with cryptocurrencies, which is becoming an increasingly relevant issue in connection with the growing popularity of digital assets in the world. The authors examine approaches to the regulation and taxation of cryptocurrencies in various countries, particularly in the European Union, focusing on differences in legislative approaches and practical aspects of the application of tax regulations. The article discusses in detail the issues related to the classification of cryptocurrencies in the tax systems of various countries. In particular, different approaches to the definition of cryptocurrency as a financial asset, property or currency are analyzed, which directly affects the formation of tax obligations of individuals and legal entities. Special attention is paid to the taxation of income received from mining, trading and investing in crypto-assets, as well as the difficulties faced by tax authorities in connection with the decentralized nature of cryptocurrencies. The article also highlights the problem of forming unified approaches to the regulation of crypto-assets at the international level, which is necessary to ensure effective taxation and minimize the risks associated with tax evasion through the use of cryptocurrencies. Based on the analysis, the authors suggest possible ways to improve tax legislation regarding operations with cryptocurrencies, in particular, the unification of approaches to their taxation and the introduction of new technological solutions to increase the transparency and controllability of cryptocurrency operations. The article is a useful resource for researchers, lawyers, tax consultants and other professionals working in the field of taxation and the digital economy.