LEGAL STATUS OF VIRTUAL CURRENCIES: WORLD EXPERIENCE AND UKRAINIAN REALITIES
Journal Title: Право і суспільство - Year 2016, Vol 2, Issue 3
Abstract
Paper investigates cryptocurrency regulation in different countries and Ukraine. It is noted that a common understanding of nature and definition of cryptocurrency (such as Bitcoin, Lifecoin, Namecoin, Quark, WebMoney, Ripple, etc) does not currently exist, as in world has not developed a single, well-defined approach to legal status of cryptocurrency. In some countries (USA, Switzerland, Canada, Germany and others) feasibility of using cryptocurrency and emerging regulatory support that would fix their legal status is admitted, while in others (China, Russia, Ukraine) circulation cryptocurrency is considered illegitimate and prohibited one. It is noted that Ukraine must borrow an experience of countries, that are in an active process of drafting normative regulation of status and legal support of cryptocurrency circulation and it is indicated necessity of development of legal basis cryptocurrency circulation in Ukraine.
Authors and Affiliations
А. Т. Проценко
Keywords
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