INSTITUTIONAL PROVISION FOR THE REGULATION OF VIRTUAL ASSETS: LITERATURE ANALYSIS

Introduction. The current stage of digitalisation of all spheres of social life leads to the emergence of new economic sectors and, accordingly, assets, which, in particular, may include virtual assets. This type of asset is characterised by its intangible form and the dependence of its value on the current market conditions. The high level of volatility of such virtual assets as cryptocurrencies may be a potential factor leading to economic crises due to the unregulated market for these assets. A more significant risk of the lack of regulation is the reputation of an anonymous means of payment, which leads to criminals' widespread use of virtual assets for money laundering or terrorist financing. On the one hand, the popularisation of their use is driven by the turnover of funds, confirming the ‘live straight' nature of the market. On the other hand, the world is still in the process of legalising virtual assets and transactions involving their use, which retains the lion's share of investors.