Abstract
Directions for Increasing the Development of Cryptocurrency in Ukraine
Highlights
With the increasing complexity of payments and the distances between participants in financial transactions, the number of third parties involved in making payments is growing
It should be borne in mind that cryptocurrency can have a potential impact on the financial system of the state, the stability of the national payment system as a result of changes in the number of transactions and, as a result, the speed of circulation of money and monetary aggregates
Measures to create a favorable economic environment for the development of cryptocurrency in Ukraine may include: determination of the legal status of cryptocurrency in Ukraine, adoption of relevant legislative acts on regulation of cryptocurrency circulation, cryptocurrency circulation to be taken under state control, development of international cooperation to introduce comprehensive regulation of cryptocurrency circulation, formation of a single cryptocurrency digitalization strategies, creating a national cryptocurrency, ensuring everyone has cryptocurrency traders needing the latest tools, introducing and stimulating cryptocurrency startups
Summary
With the increasing complexity of payments and the distances between participants in financial transactions, the number of third parties involved in making payments is growing. This, in its way, is a digital “cash” that can be used by network participants, regardless of the distance and type of transaction. Cryptocurrency is a new type of electronic money, is rapidly gaining popularity.Purpose.
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