FOREIGN EXPERIENCE IN LEGAL REGULATION OF RELATIONS IN THE SPHERE OF CRYPTOCURRENCY TURNOVER

The article discusses the foreign experience of cryptocurrency regulation since the beginning of their widespread use on the example of the United Kingdom, the United States, Canada, Australia, Ukraine, Japan, China and Latin America countries. Most of the countries, such as Venezuela, the United States, Canada, Australia, some EU countries, as well as such financial and technological giants as China and Japan are positive-expectant concerning the status of cryptocurrencies. The neutral position of a number of countries (the European Union led by Germany, Latin American countries) is due to the lack of developed legislation regulating cryptocurrency relations. In Ecuador, Thailand, Vietnam, Iceland and Bangladesh cryptocurrencies are prohibited. Venezuela became the first country in the world to create its national cryptocurrency-Petro. Its value is sunstantiated by reserves of natural resources of the country, and the price equals to a barrel of oil. By Petro, the Venezuelan government expects to overcome the economic crisis caused by the USA sanctions and to attract billions of dollars in investments. Venezuela's national cryptocurrency is built on a blockchain platform. It can be used for payments in the country and exchanged for other cryptocurrencies. In Russia, international experience in the field of regulation of cryptocurrency relationships and determining its status resulted in early adoption of the law on the cryptocurrency and the possible emergence of a national cryptocurrency - cryptolabs.

Cryptocurrency, money surrogate, international legal regulation of cryptocurrency, bitcoin, blockchain, cryptocurrency exchange, taxation, digital currency

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