Legal aspects of cryptocurrency’s circulation: international experience and possibilities of its application in Ukraine

DOI: https://doi.org/10.46398/cuestpol.3970.09
Keywords: cryptocurrency, legal regulation, international experience, legislative support, state policy

Abstract

Based on documentary scientific methodology, the legal aspects of the circulation of cryptocurrencies in Ukraine and other countries of the world are analyzed. The relationship between the state’s level of economic development and the level of its interest in cryptocurrencies is demonstrated. It was shown that almost all successful states can create and implement their own cryptocurrency. In addition, it was noted how important the issue of choosing the proper form of legal regulation of the cryptocurrency industry is today. For example, many researchers and experts have emphasized that a kind of compromise must be reached on issues related to the legal regulation of cryptocurrencies. It is therefore concluded that this applies to both the sphere of domestic and international law, where clarity, transparency and unambiguousness of legal norms must prevail. Regarding the latter, it is clarified that cryptocurrencies should no longer exist as a shadow source of income for unidentified individuals. Instead, they should be completely banned and eliminated in both the economic and legal fields, or they should be legalized and regulated by current legislation.

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Author Biographies

Mykola Karchevskyi

Doctor of Law, Professor, First Vice-Rector, Luhansk State University of Internal Affairs named after E. Didorenko. Ukraine.

Artem Kovalenko, Luhansk State University of Internal Affairs named after E. Didorenko

PhD in Law, Associate Professor in the Chair of Criminal-Law Disciplines, Luhansk State University of Internal Affairs named after E. Didorenko. Ukraine.

Anatolii Matviichuk

Doctor of Science of Law, Associate Professor of the Department of Justice Faculty of Law, Institute of Management, Technology and Law, State University of Infrastructure and Technology. Ukraine.

Mykhailo Volodymyrovych Zavalnyi , Kharkiv National University of Internal Affairs

Doctor of Jurisprudence, Senior Researcher, Associate Professor of the Department of Administrative Law and Process of the Faculty No. 1, Kharkiv National University of Internal Affairs. Ukraine.

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Published
2021-10-01
How to Cite
Karchevskyi , M., Kovalenko, A., Matviichuk, A., & Zavalnyi , M. V. (2021). Legal aspects of cryptocurrency’s circulation: international experience and possibilities of its application in Ukraine. Political Questions, 39(70), 153-164. https://doi.org/10.46398/cuestpol.3970.09
Issue
Vol. 39 No. 70 (2021): Cuestiones Políticas
Section
Derecho Público

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