Legal regulation of cryptocurrencies: between financial law and intellectual property law

The article is devoted to an in-depth analysis of the current state of legal regulation of cryptocurrencies in world practice and in Ukraine, as well as an outline of the main problems of integration of digital currencies into national legal systems. The work examines in detail the history of the emergence of cryptocurrencies as a new phenomenon in the financial and economic sphere, with a focus on the emergence and development of Bitcoin as the first decentralized digital currency, which became the basis for the formation of the virtual asset market. Considerable attention is paid to the characteristics of cryptocurrencies, in particular their decentralized nature, anonymity or aliasing of users, cryptographic protection, impossibility of counterfeiting and direct use in business and financial transactions. The article examines the key advantages of cryptocurrencies, but also indicates risks, including possible use in illegal schemes, money laundering and terrorist financing; reduction of state control over money emission; exchange rate volatility; difficulties with tax regulation and supervision. A comparative analysis of different approaches to cryptocurrency regulation in countries such as Canada, the USA, Japan, Germany, Great Britain and EU countries was carried out. Special emphasis is placed on the regulatory and legal aspects that regulate cryptocurrencies in Ukraine, in particular the Law of Ukraine «On Virtual Assets», together with consideration of issues of legal status, licensing and state control of the cryptocurrency market. The author emphasizes the need for a comprehensive systematic approach to the regulation of the cryptocurrency segment, which would cover the financial, tax, civil and intellectual legal spheres, while guaranteeing proper protection of the rights of investors and users. The article proves that proper legislative regulation of this market will contribute to increasing the transparency of transactions with cryptocurrencies, their legalization, attracting investments and further development of the digital economy of Ukraine. Practical recommendations are given for improving the legal status of cryptocurrencies, optimizing the taxation system, licensing crypto exchanges and strengthening regulatory control over transactions with digital assets.