THE ADVANTAGES AND DISADVANTAGES OF USING CRYPTOCURRENCIES ON THE ENTERPRISES: CONTEMPORARY EXPERIENCE AND PROSPECTS DEVELOPMENT

Abstract

Purpose. The study of the theoretical foundations of the functioning of the cryptocurrency as a special type of electronic money, as well as the definition of the place in the reporting of the enterprise. To analyze the advantages and disadvantages of using cryptocurrency at Ukrainian enterprises in the context of modern international experience. Methodology of research. Theoretical and methodological basis are the scientific works of domestic and foreign scientists. The theoretical and methodological basis is the scientific works of domestic and foreign scientists. The following research methods are used: dialectical method of cognition – in the study of law enforcement practice of cryptocurrencies in Ukraine; theoretical generalization and comparison – for effective implementation of cryptocurrencies at the enterprises of Ukraine due to modern international experience; methods of analysis and synthesis – for detailing the object of study; tabular – for visual comparison of positive experience of cryptocurrency regulation in the leading countries of the world. Findings. The analysis of the definition of the concept of "cryptocurrency" by various authors and institutions, also proposed its own definition. Features of law enforcement practice of the leading countries of the world are investigated. The comparative analysis is carried out and the characteristic of positive experience of regulation of cryptocurrencies of different countries, namely – Belarus, Poland, New Zealand, Luxembourg and Spain is carried out. The ways of overcoming the negative law enforcement practice at the enterprises of Ukraine taking into account the experience of the leading countries of the world are proposed. The features of cryptocurrency functioning at the enterprises of Ukraine are considered. The adoption of the Law should be attributed to preventive measures that would determine the features of its emission and use, duties and rights of subjects of the cryptocurrency market; the creation of a special Department of the NBU on the regulation of operations with cryptocurrency; legalization of cryptocurrency mining, as well as to prevent possible negative manifestations in this area. Originality. The priority ways of cryptocurrency implementation at the enterprises of Ukraine, due to the modern international experience with positive law enforcement practice are determined. It is proved that the legalization of cryptocurrency in Ukraine and familiarizing with global financial trends will allow Ukrainian entrepreneurs to enter new world markets and extract maximum profits from it, which will contribute to the development of the national economy as a whole. Practical value. The results of the study can be used by enterprises to use cryptocurrency as a means of payment based on the experience of the leading countries of the world.