All the definitions go in circles, in that from one you can always get to the other. Some people who are very big into foundations (e.g. Bourbaki) have specific preferences for what should be the "formal" definition.
To avoid a power series definition, we can first define the complex exponential function $\mathrm{cexp}(x)$ as the unique $2\pi$-periodic positively-oriented continuous group homomorphism $(\mathbb{R},+) \rightarrow (U, \cdot)$, where $(U, \cdot)$ is the complex multiplicative circle group (where $\pi$ can be defined by an integral). Then $\sin(x)$ and $\cos(x)$ are the imaginary and real parts of that function.