Abstract:

With permanent growth of virtual currencies circulation, the world economy faces a need for institutional and legal regulation of this sphere and definition of approaches to this regulation. The analysis of international experience demonstrates that the current aim of national regulators is to minimize the risks, which arise when public interest is violated, in particular, in case of laundering of proceeds of crime and tax evasion. The given article analyzes various approaches of countries and international organizations, such as OECD, FATF, IMF, the World Bank, as well as the integration association EAEU, to cryptocurrency market regulation. The authors suggest a range of measures aimed at development of the national regulation of the virtual assets sphere at the level of the EAEU member countries focused on minimization of the risks of loss of funds by investors at different levels and provision of a basis for standardization of various approaches to cryptocurrency market regulation and application of blockchain technology at the EAEU level.