DYNAMICS OF THE CRYPTOCURRENCY MARKET IN THE GLOBAL ECONOMY

Abstract

Digital currencies imply a departure from the established structure of the financial system. Information systems and technological solutions, such as peer-to-peer connectivity and cryptographic algorithms, provide a decentralized organization of data transmission, operational security and transparency, thereby differing from the centrally coordinated and less transparent traditional structures of monetary systems. On the other hand, cryptocurrencies face the problem of money laundering and illegal trade. They face regulatory problems, insufficient legislative preparation (which leads to problems with taxation of profits from investing in them, etc.), and in the case of new cryptocurrencies, their unwillingness to mass adoption.