IDENTIFYING EFFECTIVE TOOLS FOR REGULATING THE CRYPTOCURRENCY MARKET TO REDUCE CRIME RATES AND HARMONIZE ECONOMIC PROCESSES

Sergey Bakhvalov, Elena Kirillova, Viktor Baltin, Nataliya Kurdyukova, Prokopiy Evseev, Nadezhda Klimovskikh, Anastasiya Ostrovskaya

Resumo


No regulation in cryptocurrency operations creates social and economic risks. However, attempts to regulate the cryptocurrency market are not always effective. Scholars are engaged in discussions to find effective tools for regulating the cryptocurrency market. The study aims to identify effective tools for regulating the cryptocurrency market to reduce crime rates and harmonize economic processes. The research methods are based on the analysis of a limited range of studies, analytical reports, reviews, and surveys conducted by competent internet resources. The study highlights the main cryptocurrency management strategies, depending on the administration level. Based on the obtained data, the authors develop key directions to reduce crime rates and harmonize economic processes. It is essential to minimize the anonymity of cryptocurrency. The authors suggest achieving this through the licensing of cryptocurrency exchanges and the registration of crypto investors. The cryptocurrency taxation system needs to be improved to provide the state with the means to protect crypto investors. The state should enhance the legal framework for cryptocurrency operations to mitigate criminal risks. These directions are crucial for addressing the issue of cryptocurrency market governance.

Palavras-chave


Cryptocurrency; Crypto market governance; Transactions; Mining; Crypto industry; Inflation; Financial stability; Risks of using cryptocurrencies

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DOI: http://dx.doi.org/10.21902/Revrima.v1i43.7413

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