GLOBAL EXPERIENCE IN REGULATING DIGITAL ASSETS

Author(s): Gorbacheva T.A.

Rubric: Domestic and foreign trade

DOI: 10.21777/2587-554X-2024-4-71-80

Release: 2024-4 (51)

Pages: 71-80

Keywords: digital assets, digital financial assets, crypto assets, decentralized finance, stable coins, blockchain, tokens, cryptocurrency

Annotation: Over the past few years, the attention of regulators to digital assets has increased dramatically, especially after the loss of consumer confidence as a result of a number of high-profile bankruptcies of crypto companies, fraud and irrational use of customer funds which occurred on the market in 2022. The risk to market integrity indi- cates the need for a rapid and global approach to regulatory policy and supervisory system to ensure enhanced consumer protection. In this regard, the topic of this work is undoubtedly relevant. The article examines ap- proaches to the definition of digital assets, considers their classification, and analyzes current regulatory trends in diffenert countries. As a result of the study, a number of conclusions were made. First, despite the lack of a legally established and universally accepted definition of digital assets, they generally refer to anything that is stored in digital form, can be uniquely identified, and that a business can use to generate value. Second, a significant number of countries are conducting research and developing legislation to integrate digital assets, as a rule, into the existing financial services framework, paying special attention to the assurance of reliability, transparency, and the implementation of anti-money laundering and prevention of legalization of proceeds from crime. However, the rate of action, the approaches, the services and products covered, and even the definitions and terminology used remain highly disparate.

Bibliography: Gorbacheva T.A. GLOBAL EXPERIENCE IN REGULATING DIGITAL ASSETS // Economics and Management. – 2024. – № 4 (51). – С. 71-80. doi: 10.21777/2587-554X-2024-4-71-80