Risks of the spread of new digital currencies (stablecoins), and issues of their regulation
( Pp. 105-109)

More about authors
Kevorkova Zhanna A. doktor ekonomicheskih nauk, professor, Departament audita i korporativnoy otchetnosti
Financial University under the Government of the Russian Federation Toganyan Arman S.
National Research Nuclear University MEPhI (Moscow Engineering Physics Institute)
Abstract:
Task. This article examines the threats and risks of the spread of new digital currencies, in particular stablecoins. Digital currencies are classified, their advantages and disadvantages are indicated. In particular, the article reveals the types of stablecoins and the issues of their regulation. The advantages of stablecoins over cryptocurrencies and virtual currencies are also noted. Summary. Taking into account advantage of stablecoins and disadvantages of other digital currencies, it can be predicted that this type can become one of the most common types of digital currencies. However, this could potentially have a potential shift in the virtual asset ecosystem as well as in the global economy. The proliferation of stablecoins introduces new risks and threats in the area of money laundering and terrorist financing. The regulation of these digital currencies is a topical issue for the FATF, as well as for national FIU structures. Disclosure of these issues is being considered in accordance with the draft law «Law on Cryptocurrency 2020» and amendments to the FATF Recommendation 16, called «Travel rule» for cryptocurrency. Practical importance. Conclusions lead to understanding: the characteristics of stablecoins and the risks of their spread; the measures and approaches taken by the FATF and national regulators to regulate the field of digital currencies and reduce the ML / TF risks.
How to Cite:
Kevorkova Z.A., Toganyan A.S., (2020), RISKS OF THE SPREAD OF NEW DIGITAL CURRENCIES (STABLECOINS), AND ISSUES OF THEIR REGULATION. Economic Problems and Legal Practice, 6 => 105-109.
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Keywords:
digital currencies, stablecoines, cryptocurrency, digital asset regulation, AML/CFT, FATF recommendations.


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