LEGAL REGULATION OF THE USE OF CRYPTOCURRENCIES IN E-COMMERCE: PROBLEMS AND PROSPECTS

Abstract

It considered e-commerce in the context of development of digital economy and appearance of its new varieties. The continual development of the digital environment expands the scope of use of cryptocurrencies, in particular in e-commerce. Noted a new term «crypto-e-commerce», the appearance of which reflects the use of non-traditional payment methods, for example credit cards or Paypal and cryptocurrencies, in trade online transactions for provided goods and services. The use of cryptocurrency in e-commerce provides for unique opportunities that are beyond of traditional payment methods. This opens the way to a faster, safer and more flexible way of online trading, stimulates competition in e-commerce through opening new markets, attracting new customers, etc. Noted, that, despite increase in the number of daily crypto investors and the growing discussion of the benefits of virtual currencies, their use in e-commerce remains limited. Considered the problems of using cryptocurrencies in e-commerce, among which their legal uncertainty, volatility and technical barriers. But, given digital innovation and the recognition of cryptocurrencies, these obstacles can be overcome. It has been proven that crypto-e-commerce can become the next stage of the evolution of e-commerce. The expansion of the practice of applying of cryptocurrencies in e-commerce is proposed to consider it as one of the determining factors of the new paradigm of trade relations. The legal regulation of crypto-e-commerce should be based on a balanced approach to settling these kinds of trading relations that will take into account the potential risks and benefits of virtual digital assets. The specificity of e-commerce as a sphere of the digital economy and cryptocurrencies, as its important element and payment instrument of global nature, necessitates the creation of the legal regulatory framework for the regulation of cryptocurrency commerce at different levels of its operation – national, regional, global. It is noted that the legal regulation of crypto-e-commerce, just like e-commerce in general, will develop faster at the national and regional levels.