Blockchain, Digital Assets and Currencies: Modern Aspects of Use and Accounting in the Russian Federation

Abstract

The primary objective of the research is to conduct a detailed examination of blockchain and digital financial assets, including their classification and methodology. Additionally, research addresses the key risks associated with assessing and reflecting digital assets in financial reporting, providing recommendations for managing these risks. Furthermore, attention is payed to mining activities in the Russian Federation, the existence of legislative gaps in this field and potential solutions to these issues. Various theoretical and practical research methods were used to achieve the results: analytical method to study the fundamental concepts and classification of digital financial assets; observation, comparison, experiment for risk analysis and development of recommendations in the field of accounting and reflection of digital assets; normative-legal method to study legislative gaps and propose possible solutions; comparative analysis to compare legislation in the Russian Federation and other countries. The research results include a detailed study of the concept of digital assets, their classification and methodology, analysis of identified risks, development of management measures, study of mining and legislative gaps, as well as proposal of solutions to improve legislation and accounting methods. This research holds significance for entrepreneurs actively using or planning to integrate digital assets, as well as for professionals engaged in blockchain and digital assets’ utilization in business practices and their reflection in accounting and financial reporting.