Mining as a Threat to Ensure the Economic Security of the Irkutsk Region

Abstract

In the last decade due to technological progress, such trends as globalization, the creation and development of new markets, which, in turn, created the latest economic processes and changed radically the traditional monetary economy, have intensified. Cryptocurrencies have now become a new form of money. This «new» money has become very attractive both for investors (due to their anonymity and a high degree of profitability) and for state financial control bodies. Special attention to cryptocurrencies on the part of state control bodies is due to the fact that the new means of payment has not been sufficiently tested in practice yet and is fraught with a significant number of threats, both for the country's financial market and for the economic security of the state as a whole. In this regard, there is an urgent need to consider the main problems associated with the use of cryptocurrencies, as well as to determine their impact on the sustainable development of the national economy of the Russian Federation and the socio-economic development of its territories. In the process of writing of the scientific article, it was revealed that the development of cryptocurrency and an increase in the share of mining in the money circulation system of the Irkutsk region carries a serious economic threat and affects the energy, financial, banking, and tax spheres of the region. At the same time, the shortcomings of the current legislation have been identified, which require methodological, legal and organizational study.