Government regulation of cryptocurrency transactions

Abstract

Subject. This article analyzes the use of cryptocurrencies in international and domestic settlements. Objectives. The article aims to analyze current approaches to government regulation of cryptocurrencies in various countries, and identify successful practices and risks associated with the lack of regulation. Methods. For the study, I used a comparative analysis, as well as SWOT and PEST analyses. Results. The article reveals the diversity of approaches to cryptocurrency regulation in various countries and identifies the specific features of legal regulation in the Russian Federation, including an analysis of the federal laws adopted in 2024 that legalize mining and permit the use of cryptocurrencies in international settlements within the framework of experimental legal regimes. It systematizes the international experience in cryptocurrency regulation, assesses the current regulatory framework of the Russian Federation, and indicate possible areas for its improvement, taking into account modern economic realities and technological trends. Conclusions. There is the need for a balanced approach to regulating cryptocurrencies that would take into account risks to financial stability and economic development, as well as promote international cooperation and the development of the crypto economy.