Russian and foreign practice of cryptocurrency market development
Abstract. The scientific article investigates a problem of the emergence of the promotion of the financial instrument cryptocurrency in the digital economy. The emergence of a decentralized monetary system has led to increased competition between different types of cryptocurrencies. The article analyzes the structure of the cryptocurrency market and the forecast of emissions in this market. The study identified two scenarios for regulating the cryptocurrency market, which are manifested to varying degrees in the international arena. The results of the study are currently widely used in relation to the popularization of digital financial assets and services and the widespread problem of their promotion in the digital economy. The article reflects the chronology of the development of the cryptocurrency market in Russia. It is concluded that there is an opportunity for the development of the cryptocurrency market in the Russian space in connection with the regulation of the legality of transactions with crypto assets at the legislative level.
Keywords: cryptocurrency market, digital economy, decentralized monetary system, capitalization of the cryptocurrency market.
Highlights:
♦ a decentralized money circulation system has competitive advantages for its users compared to a centralized monetary system;
♦ in today`s realities, there is no unified global approach to determining the content of crypto assets and ensuring centralized regulation of the crypto market;
♦ the specifics of the policy of individual countries of the world on the development of the cryptocurrency market determines the uneven application of this financial asset in the international territorial context.
Alisa M. Veber, Elena S. Materova - Samara State University of Economics, Samara, Russia