The behavior of agents to ensure financial security on the basis of game theory was analyzed, the winning strategy taking into account risk and uncertainty was determined. Using Data Mining the useful functions of this technology were identified to ensure financial security: suspicious transactions determination, credit risks analysis, client account reliability analysis, financial indicators predicting and risks control. A comparison was made of the assessment of the effectiveness of various data mining algorithms on the nature of financial transactions and decision-making procedures in the financial security system. It was proved that the development of information technology has created a whole range of vulnerabilities in the financial system, in particular, has transformed the form of money in modern conditions -the emergence of a cryptocurrency. The influence of the formation and development of cryptocurrency on financial security at all levels of the economy: micro and macro was analyzed.
Topicality. It is caused by excessive centralization of powers and financial and material resources by the executive authorities, the inability of the territorial communities of the basic level to fulfill their powers, the deterioration of the quality and availability of public services due to the lack of financial and material provision. Aim and tasks. To investigate the economic aspects of administrative-territorial reform in Ukraine, to identify the main problems of financial provision of territorial communities of the baseline level. Research results. The model of budget relations implemented is aligned not by expenditures, but by income. Such a mechanism has a motivational component regarding the interest in increasing the revenue base of local budgets. At that time, the transition to equalization of local budgets by income led to an increase in the differentiation of communities. Most benefit was given to cities of regional significance whose incomes have increased significantly. Local government revenues consist of own revenues and transfers from the central level. Over the past 20 years, the tendency towards a decrease in the share of local budget revenues and the increase in the share of state budget revenues in the consolidated budget of Ukraine (without intergovernmental transfers) has been observed. The share of local budget revenues without transfers (own revenues) decreased by 1,5 times from 31,4 % in 2002 to 20,9 % in 2018. In the financing system of local self-government, during the study period, the share of transfers increased. The share of own revenues decreased almost 2 times, from 78,4 % in 2002 to 42,1 % in 2018, and the share of transfers increased from 21,6 % to 57,9 %, respectively. This dependence on transfers is of a serious scale: in 45 % of the united territorial communities (UTC) transfers in 2016 amounted to 75 % of revenues. The increase in the share of transfers in the budgets of local self-government, the dependence of the amount of transfers from central authorities and the inability to plan them, as well as the transfer of powers without adequate financial support, pose significant risks to the economic self-sufficiency of local communities. In 2016, 76 % of expenditures of local self-government bodies were performed on behalf of central authorities as financing of "delegated powers" (health care, education, social protection). At the same time, transfers from the central level accounted for only 57,9 % of local budget revenues. That is, a considerable part of delegated powers of local self-government bodies are forced to finance at the expense of their own income. As a result, they have little resources to fulfill their "own authority", namely the construction and repair of local roads and housing, the provision of utilities (water supply and sewerage, waste collection, heating, etc.), as well as local transport and development of " objects of culture and rest. Under the burden of current expenditures, the investment capacity of local self-government bodies is small. The authorities at the oblast and rayon level are not entirely self-governing, as regional and district levels act as local self-government bodies (regional and district councils), as well as executive bodies (oblast and rayon state administrations). The first few have very few powers, and their executive bodies are not created, although this is provided by the Concept. The latter are subordinate to the central authorities and they have a dominant role. All this complicates the assessment of changes at the regional and district levels in the context of financial decentralization. A prerequisite for the normal functioning and development of UTC is their economic self-sufficiency. This implies that the UTC revenues correspond to the expenditures necessary for the exercise of their own and delegated powers. An appropriate methodology is needed to carry out an assessment of the economic self-sufficiency of the communities. More than 4 years of decentralization reform have taken place, but there is no corresponding methodology. The lack of a methodology for assessing the economic self-sufficiency of the combined territorial is due to objective reasons. First, this is the lack of a clear and legally-established division of powers between the executive and local self-government bodies, as well as between the levels of the latter. Secondly, the lack of standards and norms of financial and infrastructural provision of public services (schools, kindergartens, paramedical outpatient departments, out-patient departments, engineering networks, etc.). Conclusions. The conducted study shows that Ukraine has a centralized system of incomes and expenditures, and the reform of financial decentralization has led to the opposite result, namely, to increase the dependence of local self-government on central authorities. The reform of financial decentralization in Ukraine tends to support a model that is more based on transfers than on its own revenue.
For a couple of years, the cryptocurrency has made a splash in the world of economy, turning from virtual money into a huge market in its size and creating a new full-fledged ideology of money-crypto-economy. Cryptocurrency has a huge potential for development. Cryptocurrency is a digital currency that uses encryption technology to transfer value over the Internet. But today cryptocurrency is trading that most meets the needs of modern society. This form of currency works independently of the banking system and can use in many countries as cash. The relevance of the study is whether cryptocurrency has a positive impact on the development of the economy. The purpose of this article is studying the impact of the process of introduction and use of cryptocurrencies in the economy of Kazakhstan. This process is intensively developing.The key issue for a deeper understanding of the role cryptocurrency is determining their economic nature. Research methods include the stage of cryptocurrency analysis affecting the financial sector, the dynamics of the cryptocurrency market and the overall analysis of assets. For analysis, we paid attention to five cryptocurrencies with the largest capitalization and a large amount of data. The analysis revealed the main factors affecting the market price of cryptocurrency and ways to eliminate them. In addition, the main problems of introducing cryptocurrencies in Kazakhstan, such as the process of regulation of the cryptocurrency market identified and prospects analyzed. A new form of cryptocurrency uses pro-posed.
The article presents the results of a study of the theoretical foundations of the Blockchain technology. The analysis of the organization structure of its units and the principles of the system. Algorithms of smart contracts are considered and their advantages and disadvantages are analyzed. The purpose of the study is that based on the analysis of the theoretical foundations of building systems using blockchain technology and introducing them into various areas, to propose a system model using smart contracts on the Etherium platform for use in the workflow system in institutions of higher education. Convenient web interfaces for managing the creation of a contract and a module for the interaction of smart contracts with a Web application have been developed. The management of an institution of higher education, namely, a department, faculty or institute, involves the correct and timely preparation of various documentation, in which the documentation on student learning outcomes holds a special place. On its basis various financial and reporting documents are being prepared. To this end, institutions of higher education are introducing workflow system and office automation systems to manage the processing of documents, as well as to organize control over the implementation of these processes. The paper proposes the introduction of a blockchain system on the Ethereum platform using smart contracts written in the Solidity language. Solidity is a tool that is used to create machine-level code that can be run on an Ethereum Virtual Machine. Solidity allows you to create and execute a smart contract without requiring centralized or trusted parties. The use of such technologies makes it possible to significantly reduce the number of paper-based information carriers and, to a significant extent, further automate the existing the workflow system in institutions of higher education. The proposed system is a part of the workflow system of institutions of higher education, which is designed to automate the process of passing documents related to taking into account and submitting to the dean's office of the faculty or the institute the results of the final controls on academic disciplines or the results of retake of tests and exams. This process requires a large number of documents on paper. The proposed system is deployed in the local computer network of the Educational and Scientific Institute of Information Technologies and Mechatronics of Poltava National Technical Yuri Kondratyuk University and is being tested. The results allow us to draw conclusions about the reduction in the number of paper documents; time to obtain permits. In addition, the level of reliability and protection of information transmitted to the administration of the faculty or institute for further processing has increased. In the future, it is planned to introduce the proposed system for document flow automation for all institutes and faculties of the Poltava National Technical Yuri Kondratyuk University.
The target of the article is to study the place of the cryptocurrency in the process of money laundering. The subject of the article is to investigate the ways and means of usage cryptocurrency for money laundering, the possibilities, and limits. Problem’s setting. The authors of the paper have emphasized that despite the broad usage of cryptocurrency all over the world for different kinds of purchasing and transactions, there is no unified position regarding the definition of cryptocurrency, as well as its legal status. Moreover, the aforementioned circumstances trigger the difficulties during the criminal investigation of money laundering by using cryptocurrency. Thus, law informant agencies are facing challenges with the identification of criminals’ personality and the fact of crime commitment. In addition, in the article, the authors articulate the main concept of cryptocurrency: anonymity and decentralization, which engender the main aggro while crime investigation. Methodology. The research is based on an analysis of historical stages of cryptocurrency creation: from Friedrich August von Hayek’s idea of “currency independent from banking and governmental” to the establishment of decentralized currency. Moreover, there were analysed the cases of money laundering where criminals who used cryptocurrency have been identified and press charged. In addition, the comparative methods were used to collate different positions regarding cryptocurrency all over the world and inside Ukraine. The position of the main authorities and organizations regarding the legal status of cryptocurrency was investigated as well. The results of the study revealed that a cryptocurrency is a convenient tool for money laundering because it gives relative anonymity for the owner of the currency, as far as it does not require any personal information about the user and his location. Aforementioned feature minimizes the opportunity for law enforcement agencies to track back the criminal activity and to identify the criminal personality. Furthermore, cryptocurrency transactions are out of the government control because for conducting any transactions by using cryptocurrency, there is no need for their verification by third parties like a bank, governmental authority or nongovernmental organizations. In addition, the user can have more than one account and conduct transactions from different places at the same time.
Constant technological innovation is the current reality for businesses and people. Most of the technologies have great potential beyond what they are designed for. Blockchain, the underlying distributed ledger technology of Bitcoin, has only recently begun to be tested for other uses. This paper studies Blockchain technology and its applications to supply chains. The concept of Blockchain technology will be scrutinized and its implementation benefits and limitations presented. Furthermore, the use cases and benefits of Blockchain technology for supply chains will be analyzed. The paper is complemented with examples and achievements of organizations testing the technology and experts opinions on the technology and its future.
The article reveals the expected risks in the process of decentralization of power in Ukraine. The basic definitions of decentralization have been analyzed. The main risks of decentralization are as follows: lack of mechanisms envisaged by the draft Law "On the Association of Territorial Communities", for the implementation of administrative and territorial reform; weakening of state control over the implementation of extended powers by local self-government bodies; the threat of failure to finance the powers of local self-government bodies. Three important stages of the development of the National Support Strategy are identified: the first stage requires the characterization and understanding of the national NSP; the second stage provides for an analysis of the current situation in the country; The third stage involves refining the international strategy-response. It is proved that the new system of public administration in Ukraine should be created through administrative reform. Therefore, the content of administrative reform consists, on the one hand, in the complex reorganization of the existing system of public administration in all spheres of public life in Ukraine. On the other hand - in the development of some institutions of public administration, which Ukraine has not yet created as a sovereign state.
Nowadays, Blockchain is one of the most desired technologies, because almost every industry seeks to apply it. Tourism was no exception. Manufacturers of services on the basis of a distributed database claim that thanks to the blockchain it is possible to completely get rid of the monopoly in the market, which in turn will lead to lower prices for services and increase the level of tourist comfort. The technology was first applied to the Bitcoin network. Now blockchain finds application in a wide variety of areas, from processing financial transactions to storage of data on the purchase of virtual cats. The tourism sector can use the blockchain to store publicly available information about the quality of hotels and the behaviors of tourists, to process transactions for the purchase of tickets and reservation of housing, to create databases for storing identity cards, etc. The subject of the article research is the use of blockchain in the tourism industry. The goal is to analyze the current state and determine the prospects for using blockchain technology in the tourism business. The tasks are to highlight the main problems and prospects for using the blockchain, as well as formulating a strategy for using this technology in the tourism market as a means of improving the quality of travel. The study uses theoretical, methodological and systematic methods of source analysis, including statistical materials, regulatory documents, scientific articles to assess the state of the use of blockchain technology in tourism and the prospects for its application. The following results were obtained: the main directions of the use of the blockchain in tourism were identified, its influence on the creation of a more diverse and flexible offer in the tourism services market. It is concluded that blockchain technology can provide greater security and transparency in the tourism industry thus increasing its profitability, which in turn affects the creation of new jobs and the standard of living of the population.
Торжевский КРИПТОВАЛЮТА КАК ИНСТИТУТ ЦИФРОВОЙ ЭКОНОМИКИВ статье рассматривается роль криптовалюты (и в частности биткоина -BTC) в процессе перехода к информационному обществу и цифровой экономике через призму трансформации социально-экономических институтов.Анализируется влияние BTC на основные институты общественного развития: института денежного обращения, посреднический, трансмиссионный, накопительный и др
Important conditions for Ukraine's integration into the European community are the decentralization of power and the provision of financial autonomy to local authorities. Decentralization allows local government authorities to obtain autonomy in terms of financing and providing social benefits to the population, contributing to the sustainable socio-economic development of the respective administrativeterritorial units. The article is devoted to the study of the characteristics of the accounting and analytical system in the process of income management of the united territorial communities in the context of the formation and use of local budgets. The analysis of the current state of development and the dynamics of the main indicators of the formation of UTCs in Ukraine and the volume of their budget revenues for the period 2015-2018 is carried out. It was found that during the research period there was a tendency of growth of revenues to the general fund of local budgets of territorial communities, including intergovernmental transfers and other funds allocated for implementation of targeted measures.In particular, in the structure of such funds, the largest share is allocated to regional and socio-economic development and the development of medicine in rural areas. The role of financial support of territorial communities was determined, the specificity of formation of the revenue part of the local budgets of UTCs was investigated in order to determine the structure of income and the ratio of sources of financing of local budgets.The issue of granting subventions and grants from the state budget for the proper exercise of the powers delegated by the government (to the development of education, medicine, culture, social security, etc.) is considered. The analysis focuses on the synthesis of opportunities for increasing financial revenues to the UTC budget, which will contribute to the selfsufficiency of local budgets under conditions of budget transformation. It was investigated that one of the directions of improvement of information support of budget incomes management is automation of accounting process. It is proposed to use the modern domestic software products "MASTER: Budgetary Institutions", which are fully adapted to the Ukrainian market and meet the requirements of the current legislation of Ukraine to be used in the UTC for accounting purposes
Тенденции развития науки и образования -17всех стран мира, британские ученые считают, что нет необходимости давать социальному предпринимательству одно четкое определение, так как каждый регион имеет свою специфику, и таким образом, многие не смогут подстроиться под это определение.И лучше всего, если каждый регион сам определит социальное предпринимательство для себя
Донецький національний університет імені Василя Стуса, Maya M. Savchenko, В.О. Короленко, Донецький національний університет імені Василя Стуса · 6 authors
The article explores innovations in the monetary sphere, namely the emergence of a modern form of money - digital currency. Forms of this currency, such as electronic and virtual money, are defined. The dynamics of development of the first and the most expensive cryptocurrency now - Bitcoin is analyzed. The general state of the cryptocurrency usage in the world is indicated. The advantages and disadvantages of using digital currency are also highlighted. The Top-10 cryptocurrencies in the world for 2019 are highlighted with the largest market capitalization of Bitcoin, Ethereum, Ripple. The dependence of the economic development level of the country and the degree of cryptocurrency implementation is revealed. The world legislative experience in the field of regulation of the cryptocurrency is researched. The possibility of its application in the Ukrainian legislation by the cryptocurrency legalization and minimization of risks in the process of use are studied. Prospects for the spread and further development of cryptocurrencies in Ukraine and in the world are considered. It is noted that providing the improvement of monetary technology, its proper regulation and improvement of infrastructure, this financial instrument will occupy an important place in people's daily life.
The theoretical framework of the study covers the formation and development of cryptoeconomics, as well as its impact on the environment. The term cryptoeconomics is used to refer to a new industry, which develops around cryptocurrencies and blockchain. Cryptocurrency mining consumes a lot of electricity. As of September 2019, the estimated annual electricity consumption was 78.93 TWh (with an electricity price of 0.05 USD). This model was used to create the Cambridge Bitcoin Electricity Index web service. If we assume that electricity for mining is generated at coal-fired power plants only, then knowing the energy consumption of bitcoin miners, we can estimate carbon dioxide emissions at the upper boundary. In this case, carbon dioxide emissions are about 80.43 million tons of CO2, which corresponds to 0.24% of the total emissions in the world. The aim of this work is to simulate carbon dioxide emissions caused by bitcoin mining, taking into account the regional distribution of miners and various sources of electricity that are used for mining. To achieve it, the following tasks were set: 1) the formation of a reasonable list of mining pools; 2) clarification of the geographical distribution of miners; 3) assessment of the distribution of mining capacities by region; 4) evaluation of air pollution by regions. The problem of increasing electricity consumption by the network of bitcoin (and other cryptocurrencies) miners and the corresponding environmental impact should be discussed with policymakers, industry participants and the general public. According to the proposed method for assessing the geographical distribution of mining using the traffic of mining pools web pages, carbon dioxide emissions is about 44.12 million tons per year (0.13% of global emissions), which is two times lower than the upper boundary estimate.
The paper deals with the issue of the budget financing of digitalization in Ukraine through e-governance. It was shown that it is very difficult to estimate the real volume of public expenditures on digitalization (informatization) through e-government program at all budget levels and directions, since its components (national, sectoral, regional) are being implemented by many executive bodies and local governments. According to international organizations, the public access to information on budget spending in Ukraine is limited, and transparency level is insufficient, while the level of e-governance is high. However, the interfaces of e-government and e-budgets of the central and local government bodies are not unified, and are mostly inconvenient to users. The official websites provide outdated and limited information. The lack of transparency of the budget resources using reduces the trust of the general public in governmental institutions. The organizational and institutional mechanism of budget financing of e-governance is studied based on the results of audits conducted by the authorized state bodies. It is revealed that the main contractor of the subprograms implementation of the National Informatization Program – the State Agency for E-Governance of Ukraine – has not ensured a proper level of coordination, control, and systemic and consistent action, therefore important goals of the program have not been achieved. While the goals of digitalization of public services are declared as priority in Ukraine, the level of budget financing does not correspond to them. In case of the implementation of regional programs of informatization, insufficient control of the main spending units leads to poor performance or failures in their execution. Still unsolved remains the issue of determining the sources of financial support for the basic sectors of the social sphere, in particular, regarding measures for their digitization, within the framework of regional decentralization. To deal with the above mentioned problems and challenges, it is recommended to establish a single coordinating body in the field of digitalization, including e-government, which should have ministry status and be built up on experience of countries, where similar bodies exist. The publication is prepared during the research work "Formation" of smart specialization in the economy of Ukraine" (state registration number 0117U007701).
Introduction. The reform of public finances in Ukraine involves implementing measures to increase the openness and transparency of the budget system. Ensuring the transparency of the budget process and the participation of the population in its organization envisages timely and accurate disclosure of information on the use of budget funds, as well as the ability of the public to participate in the formation and implementation of the budget, which is indisputable sign of democracy in many countries around the world. Purpose. The purpose of the article is to study the issues of effective implementation of the participation budget in the context of decentralization, also the development of practical recommendations for improving the dialogue between local authorities and society on the basis of cooperation in the context of participative budgeting. Results. The role and place of the participation budget in the system of public finance in terms of financial decentralizations are justified. Foreign and domestic experience of introducing participatory budgeting in the field is generalized. The algorithm for implementation and implementation of participatory budgeting and recommendations for effective implementation of the budget for participation in the community are presented. Conclusions. The participation budget is an effective tool for interaction between government and society, which combines the principles of democracy and zransparency. Of course, the introduction of a budget for participation in the context of decentralization reform offers significant benefits. Particularly relevant is the introduction of the participation budget for newly formed united territorial communities. If previously small financially unprofitable communities were not able to use participatory budgeting in their territory, now, with voluntary unions, they are getting new financial opportunities for their development, using best practices in the participation budget in large and small cities
Introduction. In Ukraine over the past decades there has been an extremely difficult situation with the renewal of fixed assets. The level of wear of fixed assets at the disposal of public authorities is more than 50%. In this circumstances, the issue of finding resources for financing capital expenditures for updating of the infrastructure, creation of new fixed assets becomes a topical issue. An important role in this process is given to local budgets, which, under decentralization, have broad powers in many areas, including those related to the implementation of capital expenditures. Local borrowing has a significant potential for revenue mobilization, which practically does not used by local authorities. Therefore, the study of this institute is an extremely important area of justification for further improvement of the budgetary system of Ukraine. Purpose. The purpose of the article is to study legal norms and practices for the implementation of local borrowing, as well as to develop recommendations on how to improve this institution. Results. As a result of the review of the current legislation, it was discovered that the main drawbacks that inhibit the development of local borrowing in Ukraine are the lack of a methodology for issuing external local loan bonds and the limited access of local councils to the borrowing market. The analysis of statistical data showed a low state of development of the local borrowing market in Ukraine. The main reasons for this situation are the inability of local councils to compete on an equal footing with the state in the financial market; long period of the crisis state of the national economy; low level of experience in the issue of municipal bonds; a large number of bureaucratic procedures and restrictions. Conclusions. The research showed that the institution of local borrowing in Ukraine is, in fact, at the stage of formation. There are significant shortcomings both in the legislation and in the practice of local borrowing. The least developed in Ukraine is a segment of municipal bonds. The frequency of issuing such loans is low and they are carried out irregularly. The fact that the municipal bonds market is the most active segment in the market of municipal borrowings of developed countries, gives grounds to assert about its considerable untapped potential in Ukraine. Reforming the budgetary system of Ukraine and increasing the financial autonomy of local authorities can be an impetus for its development in Ukraine. In order to make this possible, it is necessary to stimulate the development of financial market institutions, especially the stock market. The ways of development of local borrowings are offered as follow: establishment of objective and flexible criteria for obtaining the opportunity to enter the loan market; increase in the number of types of bonds; creation of an intermediary underwriter for bond issue; developing a system of incentives for investors in municipal bonds. Implementation of the proposed directions, together with a set of measures designed to develop the financial market and increase financial literacy of the population, will ensure greater efficiency of the use of local budgets and the development of the economy.
Introduction. In the context of budget decentralization in Ukraine, local governments are trying to make effective use of their powers and financial potential of the territorial community in order to increase local budget revenues and funding of services at the local level. The purpose is to find out the essence of the financial potential of territorial communities and to analyze its current state in the context of existing and potential sources of financial resources that can be used by local governments for the realization of their goals and perspectives. Methods. To achieve goal, a system of general scientific and special methods of research was used: analysis, synthesis and generalization - in the processing of literary, statistical, legislative and Internet sources on the topic of research; methods of systematizing and generalizing data, comparing and detailing were used when conducting analysis of local budget revenues; graphical, tabular and visualization methods were used for visual representation of the processed data; abstract-logical method was used for summarize the material presented and formulate conclusions. Results. It has been found out that financial potential of a local community is a collection of available and potential sources of financial resources that local governments can attract through budgetary, investment, credit and grant mechanisms to ensure the effective functioning of the community. It is proved that budgetary funds is gradually increasing and prevail in the structure of financial resources of local self-government bodies in Ukraine. Despite the positive dynamics, local budget revenues have not yet become the basis of financial independence of territorial communities, and tax revenues make up 88% of the structure of local budget own revenues. Possibilities of attracting private sector investment funds on the basis of public-private partnership as a potential source of financial resources of territorial communities are analyzed. It has been found out that the sources of growth of the financial potential of local self-government are credits and grants, which provide financing for infrastructure projects for the development of territorial communities. It is proved that the specific reserve of resource provision of territorial communities is human capital, with the participation of which the formation, distribution and use of financial resources of the community takes place. Emphasis is placed on revenues from the disposal of municipal waste as an inexhaustible financial resource of territorial communities. Proposals for increasing the efficiency of utilization of the financial potential of territorial communities at the present stage of development have been developed. Conclusions. The subject of further scientific exploration is the search for and in-depth study of ways to effectively use the financial potential of local communities to improve the quality and accessibility of public services at the local level.
У статті проведено аналіз основних характеристик біткоїна як першої криптовалюти, досліджено особливості подальшого розвитку ринку криптовалют та застосування технології блокчейн. Розглянуто динаміку капіталізації основних криптовалют та визначено лідери даного ринку за рівнем капіталізації
Blockchain is a new technical innovation based on distributed ledger technology, which, according to the literature, promises to improve supply chains by facilitating trusted transactions. Due to its immutability it can help eliminate third parties, which traditionally intermediate between the parties involved in transactions. Large multinational companies that have major influence in supply chains can easily rape the benefits of blockchain, however, small and medium size enterprises (SMEs), which together generate 99% of the added value of the Dutch economics, do not have the means to achieve this. Therefore, this research poses the question, which user cases exist already and which opportunities do they offer for SME's to create value. The paper answers this question based on literature and the analysis of 70 user cases. Based on the analysis the SMEs are advised, which of the following five strategies to follow, ignoring it, waiting to see the market developments, make use of blockchain services offered by the new blockchain based middlemen, such as the supply chain finance, paperless and market platform solutions, integrate in existing blockchains of multinationals as Maersk or create their own blockchain.
А. Kramarenko, Anton Kvitka, Віталій Дячек, Denis Davydov
The article considers the place of cryptocurrency markets in the global economy. The key risks of active implementation of IT achievements in the financial sector were defined. It was shown that cryptocurrencies are associated with settlement operations, investment activities and speculation in the currency markets. It was argued that the availability of equipment for the production of digital currencies, the spread of trust on the part of users and business representatives contribute to the promotion of cryptocurrencies and the penetration of digital currencies in various spheres of economic activity. The attraction of additional resources in the economy in the conditions of insignificant costs for entering the cryptocurrency market that become a factor in the spread of cryptocurrency assets was considered.
Альона Ільдусівна Гнатовська, А. І. Гнатовська, Алена Ильдусовна Гнатовская, Alona I. Hnatovska · 16 authors
The article deals with the problems of determining the place of the cryptocurrency in the system of financial instruments and the study of its legal status in Ukraine and in the world. The problems of influence of cryptocurrencies on the economy of Ukraine and other countries across the world, potential threats posed by the cryptocurrency system for users of such systems and ways of legal regulation of cryptocurrency transactions are considered. The terminology that is widely used in the cryptocurrency field is analyzed, the main types of cryptocurrencies and the technologies on which they function are considered. Their characteristic features, positive and innovative concepts, which were introduced with their appearance, are identified. The legal status of cryptocurrencies and their prevalence has been investigated. The modern concepts of regulation of the cryptocurrency market in Ukraine and in the world are characterized. In the course of researching the subject of the article, the authors conclude that it is necessary to establish state control over the regulation of the legal status of cryptocurrency and prevent its possible negative impact on the country's economy. It was also concluded that a draft law would be considered that would address the issue of regulation and control of cryptocurrency transactions.