THE SHADOW COMPONENT IN THE USE OF CRYPTOCURRENCY

Abstract

Cryptocurrencies considered not just as a payment means and an investment object, but also as one of the prerequisites for entering to the Internet economy and a means of exchange in this new digital economy. The article examines the shadow component aspects of the economy in the context of appearances and development of cryptocurrency. The theoretical basis of the study is the provision of a "shadow economy" in almost any economic system. When using cryptocurrency often use fraudulent schemes and methods. The functioning of cryptocurrencies based on blockchain technology has full functionality for performing illegal operations, and this is the main negative factor in the circulation of these currencies. As the results of the study, it can be noted that cryptocurrencies should be considered as a means to enter the Internet economy while their turnover associated with the risk of money laundering, due to their anonymity and cross-border nature, which, in turn, requires a detailed development of methods and tools for economic security. Prohibition on cryptocurrencies transactions at the legislative level can lead to serious negative consequences for the economic security of the state. Such bans will only stimulate the use of cryptocurrencies in the shadow economy. The object of the study is integration of cryptocurrencies into national economic processes, which generates fundamentally new risks and threats using. The subject of the study is the economic properties of the cryptocurrency that contribute to its involvement in the shadow economy. The main purpose of the study is to analyze the aspects of cryptocurrency involvement in the shadow economy.