FORMATION AND DEVELOPMENT OF THE LEGAL REGULATION OF DIGITAL CURRENCIES IN UKRAINE

Introduction. In recent years, humanity has formed the foundations of the ideology of world development for the coming decades. It seems that the main concept of the future in the 21st century is harmonious sustainable development. Thus, in September 2015 The UN General Assembly adopted the Sustainable Development Agenda in September 2015, which defined the main directions of global development for the period up to 2030, including the task of building high-quality, reliable, sustainable and indestructible infrastructure to support sustainable economic growth and human well-being. Despite the positive impact of digital technologies on the achievement of the Sustainable Development Goals, in the context of the development of a digital society, as well as comprehensive integration and intercultural communication, the issue of legal challenges posed by digitalization is becoming acute. Realizing the inevitability of change, as well as in order to implement sustainable development plans, most countries are currently taking various measures at all levels of government to introduce and simultaneously control digital technologies. It is worth noting that financial technologies have become one of the reasons why the digital currency market is developing so rapidly today. Digital currencies are currently one of the most popular areas of research for many scholars of interdisciplinary studies. It is worth noting that the issue of developing legal regulation of digital currencies in Ukraine remains difficult, as a specific regulatory framework has not yet been established. Due to the rapid growth of digital currencies in Ukraine in recent years, the regulatory mechanisms governing digital currencies have not yet been formed. The boundaries and scope of legal regulation of digital currencies remain unclear, and market participants do not have a mechanism to protect their rights and legitimate interests. These practical, doctrinal and legislative issues make the circulation of digital currencies in Ukraine a relevant topic for research and raise urgent issues that are mandatory for regulators and market participants. Goal. The purpose of the study is to reveal the formation and development of legal regulation of digital currency circulation in Ukraine. Materials and methods. The research materials are: 1) regulatory and legal support for the circulation of digital currencies in Ukraine; 2) works of domestic authors conducting their scientific and practical research on the regulation of digital currencies in Ukraine, and the distinction between public and civil law relations in this area. In the process of carrying out the research, the following scientific methods were used: theoretical generalization and grouping; formalization, analysis and synthesis; logical generalization of the results. Results. The analysis revealed that Ukraine belongs to the countries that are developing legal regulation of digital currencies. Legal regulation in the field of digital currencies in Ukraine is in the process of implementation and development. Having introduced a number of provisions aimed at regulating relations in the field of digital currencies into the national legislation under the influence of FATF requirements, the legislator did not take into account a number of aspects that require further regulation. Inadequate legal regulation of digital currencies in Ukraine results in: 1) lack of transparency in the use of virtual assets for savings, investment and business development; 2) moderate growth in the number of users of digital currencies and virtual infrastructure in Ukraine. Discussion. Further scientific research will identify other problems and prospects for their solution relating to the development of legal regulation of digital currencies in Ukraine.