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Camil-Ciprian Cirnu ()
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Camil-Ciprian Cirnu: The Bucharest University of Economic Studies, Romania

Ovidius University Annals, Economic Sciences Series, 2024, vol. XXIV, issue 1, 604-608

Abstract: Cryptocurrencies have emerged as an instrument of exchange, typical of the role of money. But in a short time, due to high fluctuations. Cryptocurrencies have become derivative financial instruments because of large increases in a very short time. Like any financial instrument it had a correction period, which brought huge losses to investors. Accounting for cryptocurrencies is a common problem nowadays. This new method of exchange also affects the life of companies. At first cryptocurrencies directly affected individuals, but as their popularity grew, they began to become involved in the economic life of companies. These economic acts need to be reflected in the economic statements of companies. There is no clear regulation on how to account for these cryptocurrencies. The aim of the paper is to address the need for regulation in the crypto area. The new financial instrument to be presented in a company's financial statements.

Keywords: cryptocurrencies; financial instrument; financial statements (search for similar items in EconPapers)
JEL-codes: G20 M41 (search for similar items in EconPapers)
Date: 2024
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