THE PERSPECTIVES AND LEGAL REGULATIONS OF CRYPTOCURRENCY: THE KAZAKHSTAN’S APPROACH

Abstract

The core fundamentals for cryptocurrency legal regulations are objective processes associated to its growing role, which has a significant impact on the international financial system functioning. Today there is no clear scientific agreement as to a uniformly accepted “cryptocurrency” definition; this lack of agreement creates challenges in developing the mechanisms for the legal regulation of cryptocurrency and operations associated with it. The methodological basis of this study consists of the comparative law analysis, which includes the study of the most effective foreign approaches in the field of cryptocurrency legal regulation and electronic money, and applicability of foreign experience in the Republic of Kazakhstan.