The Current Legal Regulation of Cruptocurrancies and Blockchain in the World. Sistematisation of Definitions

• Authors: Oleksandr Chernykh

Abstracts

EN

The author analyses the legislation of different countries, analytical studies of international experts in order to determine trends in the legal regulation of blockchain. Regulations of government banks, regulatory organizations regarding the operation of the virtual assets and growing demand for virtual currency leads to high risks in the area crypto actives. Uncertainty and complexity of legal support for the development of blockchain technologies and artificial intelligence in economic activity leads to limited practice of regulatory definition and government processes. However, state order is to sanction the stabile existing social relations from considering international legal institutions of legal regulation, such as the protection of personal data, identification and verification subjects of entrepreneurial activity, prevention of laundering money, prevention of evasion from payment of taxes. The author draws attention to the fact that it is necessary to concentrate analyses on resolving not only virtual currency, but the system blockchain in general, to provide legal definition of those phenomena which are not associated with just speculation or payments of cryptocurrency. In the article discusses current problems of the EU, Asia, Ukraine on implementation of international standards in the field of prevention of laundering of money, protection of per sonal data and the possibility of crypto actives and use the technology of artificial intelligence, which will develop business operations, including technology blockchain.

Keywords

EN

blockchain technology; artificial intelligence; database data; payment services; crypto actives; cryptocurrency; crypto actives issuer; virtual assets

• Publisher: Wydawnictwo Adam Marszałek
• Journal: Krakowskie Studia Małopolskie
• Year: 2021
• Volume: 1(29)
• Pages: 41-55

Dates

published

2021

Contributors

author

Oleksandr Chernykh

• National Academy of Sciences of Ukraine

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Identifiers

DOI

10.15804/ksm20210104

Biblioteka Nauki

1931994