Нові пропозиції щодо регулювання ринку криптоактивів у Європі та шляхи імплементації їх в Україні

Abstract

Introduction. Digital finance is increasingly becoming one of the most important parts of the economic and financial ecosystems of Europe and Ukraine. The demand for crypto-assets and related products and services has grown rapidly in recent years and is becoming increasingly interconnected with the regulated financial system as it potentially fundamentally changes it and the entire economic system of a nation. Understanding the risks associated with a sector where most activities are unregulated or, at best, lightly regulated, their assessment and the potential benefits of digital assets must answer the question of how the financial system meets the current needs of consumers in a fair, inclusive and efficient way. Problem Statement. The main challenge is the need for an internationally agreed policy approach, including the definition and parameters of jurisdiction, as well as in terms of exchanges between countries, prevention of market manipulation and systemic risks. On the national market – inconsistency of state authorities and blocking of the process of legalization of the virtual assets market, implementation of own regulatory framework taking into account credit and payment risks, banking risks and anti-money laundering (AML) risks, tax policy and risks of tax evasion, fraud, cyber security, hacking and privacy risks. Purpose. The new proposals of the digital financial package of the European Union draft laws on the regulation of the crypto-assets market were considered. The situation on the market was analysed and it was determined that Ukraine occupies one of the leading places in the world market and needs to speed up the implementation of the legal market of virtual assets. Considering the fact that our country is on the European democratic path, the need to revise the legislation in the financial system in terms of the introduction of digital finance is absolutely necessary for the effective development of the economic and IT spheres. Methods. General scientific and special methods are used: analysis, synthesis, grouping, description, comparison, theoretical generalization and abstract-logical. Conclusions. The introduction of an effective market of virtual assets in Ukraine is currently one of the important tasks of the political and financial system of the country, taking into account their popularity in Ukraine and the need in wartime for settlements with foreign counterparties. An effective legal system will not only maintain a leading position in the IT sector on the global market, but also the development of the financial and economic system as a whole. Since the European Union is the third largest economy in the world, regulatory decisions are more likely to have a serious impact on other countries, including Ukraine. Therefore, studying and implementing its legislative initiatives is an important step towards bringing Ukraine closer to a democratic safe space.