The subject of the study is a relatively new instrument of financial market – cryptocurrency.

The article uses methods of comparative analysis and logical research, which allowed us to evaluate the characteristics of cryptocurrencies and the mechanisms for their regulation.

The article examines controversial issues of the essence of cryptocurrency. In the scientific and practical environment, cryptocurrencies are considered as digital currencies, electronic means of payment, new forms of electronic money, “new money” and sometimes even as a mirage. An assessment is given of the current state of cryptocurrencies in various aspects (structure, user community, gender and age characteristics of users, use of device type and browser). An assessment is made of the mechanism for regulating cryptocurrencies in different countries - as those recognizing this instrument and asset.but regulating it, and rejecting it and tolerating it, but not having a normative basis for its use.

It is obvious that cryptocurrency is a relatively new financial market instrument, but its value does not depend on the amount of labor invested, as is traditionally typical for ordinary goods and services. An assessment of the cryptocurrency structure showed that bitcoin is still its most common type, although Ethereum is also increasing its volumes. Bitcoin users are mostly men aged 24 to 44. An important and significant aspect of cryptocurrency functioning is their regulation. Cryptocurrency has official status (as a product, financial asset, means of payment or other instrument) in forty countries. Venezuela became the first country to launch its own cryptocurrency, petro, a distinctive feature of which is its real backing. In the future, it seems certain that cryptocurrencies will be regulated internationally, with an emphasis on preventing the use of digital assets for money laundering and illegal financial transactions.

cryptocurrencies, controversial aspects of the essence of cryptocurrencies, bitcoin, regulation, characteristics of cryptocurrencies.

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