FOREIGN EXPERIENCE OF CRYPTOCURRENCY LEGAL REGULATION

Uncertainty in the legal regulation of cryptocurrency is one of the most pressing problems in Russian law today. The author studies the history of the appearance of cryptocurrency and notes the rapid development of the cryptoindustry, which led to the need for its legal regulation by states. The author examines the models of legal regulation of cryptocurrency presented abroad: recognition of cryptocurrency as an official monetary unit (El Salvador), a complete ban on operations with cryptocurrency (China), recognition of cryptocurrency as property (the USA), recognition of cryptocurrency as an alternative payment method (Germany), and recognition of cryptocurrency as a legal tender (Japan). The consequences, to which this or that variant of the legal regulation of cryptocurrency has led or may lead, are considered. The author determines which of the models presented is the most effective and which country’s experience should be adopted.