FEATURES OF THE LEGAL STATUS AND CIRCULATION OF CRYPTOCURRENCIES IN THE REPUBLIC OF KAZAKHSTAN AND A NUMBER OF FOREIGN COUNTRIES

2024

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DOI 10.54596/2958-0048-2024-2-96-103
Data confidence 70 medium
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Abstract

This article is devoted to the study of the legal regulation of the issuance, storage, exchange, purchase and sale of cryptocurrencies. Cryptocurrencies have become widely known in modern society after the advent of the Bitcoin system, which was first reported in Forbes magazine in 2011. Cryptocurrencies operate in a decentralized mode and use blockchain technology, which ensures anonymity and security of transfers without the intervention of a banking organization. Blockchain nodes can be located all over the world, which creates a risk of anonymity for offenders. Cryptocurrencies differ from traditional currencies in that they are not issued by the state and are not subject to state control or the influence of the banking system. The article analyzed the legal status of cryptocurrencies in some countries, including Kazakhstan. The problems o f legislative regulation of cryptocurrencies and the impossibility of solving them at the state level are also considered.The relevance of this article is caused by the presence of some problems of legal regulation of cryptocurrencies, such as the lack of a single international standard for regulating cryptocurrencies, the uncertainty of their taxation, the use of cryptocurrencies for illegal transactions.