Cryptocurrency as a Tool of Financial MarketShmyreva Aleksandra, Anokhin Nikolay
The subject of the research is a relatively new financial market instrument - cryptocurrency. The authors use methods of comparative analysis and logical investigations, which allow to evaluate a variety of cryptocurrency characteristics and a mechanism of its regulation. The article considers debatable issues about the essence of cryptocurrency. In the sphere of practical application cryptocurrencies are treated like digital currencies, electronic means of payments, new forms of electronic money, “new money” and even a mirage. The paper analyzes the current state of cryptocurrencies in different aspects (structures, user communities, gender component, age characteristics of users, use of device-type and browser). The authors give an assessment of the mechanism for regulating cryptocurrencies in separate countries, which recognize this instrument and actively regulate it, as well as countries, which reject or just tolerate cryptocurrency, but do not have the regulatory framework for its use. Obviously, cryptocurrency is a relatively new instrument of the financial market, but its value does not depend on the amount of labor invested, as it is traditionally characteristic for conventional goods and services. The analysis of the cryptocurrency structure shows that bitcoin still remains the most widespread type, although ethereum is building up its volumes. The bitcoin users are mainly men of the age category from 24 to 44. An important and significant aspect of cryptocurrencies functioning is their regulation. Cryptocurrency has an official status (goods, financial asset, payment means or other instrument) in forty countries. Venezuela became the first country to sell its cryptocurrency “petro”, a distinctive feature of which is its real provision. As far as Russian regulation is concerned, there is no legislative certainty yet, although some efforts have been made in this direction for the past two years. However, while the cryptocurrency is not recognized by the state, there are doubts that it will enjoy full confidence. In the long term, it seems certain that cryptocurrency will be regulated at the international level, and the emphasis will be on preventing the use of digital assets for money laundering and illegal financial transactions.