Cryptocurrency and blockchain technology – new realities of the modern economy

Altay B.Zeynelgabdin, Yerlan Y.Akhmetbek

Abstract

The article discusses the history of the emergence of cryptocurrency, the scope of its application, the positive and negative sides, the essence and principle of its operation. An assessment of the prospects for its use is given, as well as the market for cryptocurrency capitalization and its impact on the development of the global financial system. The analysis of the experience of legal regulation of cryptocurrencies in foreign countries is carried out. The purpose of the study is to study the essence and principle of operation of cryptocurrency, as well as the prospects for its use in Kazakhstan. In this work, along with empirical research methods, theoretical methods were applied, which included analysis and synthesis of the information received. In addition, historical, logical, technical, comparative, legal analyzes were used, and the essence of cryptocurrencies was classified. Cryptocurrencies are classified according to their nature and purpose. Received data on the characteristics of cryptocurrencies. The foreign experience of the legal status of cryptocurrency and its turnover has been studied. The study showed that an important factor in the development of cryptocurrency is the presence of legislation in the field of cryptocurrency circulation and its legal status, in connection with which, in the course of work, separate legislative amendments were developed regarding the regulation of cryptocurrencies. In particular, their author’s definitions of cryptocurrencies and cryptocurrency exchanges are given, which can be used in the preparation and adoption of laws governing digital assets.

Keywords: cryptocurrency, cryptocurrency exchange, bitcoin, blockchain.

Cite

Зейнельгабдин А.Б., Ахметбек Е.Е. Криптовалюта и технология блокчейн – новые реалии современной экономики // Экономика: стратегия и практика. — 2020 — № 3 (15) — С. 111-125.