ELECTRONIC MONEY IN UKRAINE

The article reviews opinions of Ukrainian scholars relating to advantages and disadvantages of electronic money. Based on the analysis of domestic legislation and regulatory legal acts of the National Bank of Ukraine the main requirements set for issuance, placement, circulation and repayment of electronic money in Ukraine are described, the requirements relating to amounts of electronic money that may be used by users over a specific time period are outlined. The attitude of the Ukrainian central bank to electronic money as electronic cash substitutes which are not subject to mandatory acceptance is highlighted. The activity of the systems of electronic money the issuance of which has been agreed upon by the National Bank of Ukraine is analyzed.