Accounting of cryptocurrency and example applications

The awareness and influence of crypto money (virtual money), which has no legal regulations but has the potential to change the concept of today's money, is increasing day by day and its value is increasing due to high demand. It is assumed that the cryptocurrencies (virtual currencies) that exist in the market today will continue to exist within the framework of a legal regulation in the future. For this reason, accounting and reporting of transactions made with cryptocurrencies is inevitable. First of all, the working logic of Blockchain Technology, which is the technology used by cryptocurrencies, is explained, the benefits of this technology are mentioned and it is explained which areas it can affect in our lives. The types of cryptocurrencies are explained in detail, their emergence processes are explained, and their advantages and disadvantages are discussed in detail. It has been explained how cryptocurrencies are evaluated in terms of taxation in European Union countries and countries outside the European Union. Emphasis is placed on accounting for cryptocurrencies. It has been explained how cryptocurrencies will be accounted for when they are evaluated as goods, cash, securities and cash.