THE ORDER OF REALIZATION OF VIRTUAL ASSETS IN UKRAINE

Abstract

The article considers the procedure for the sale of virtual assets determined by the Law of Ukraine “On Virtual Assets”. With the advent and development of Internet commerce, there was a need for a new means of payment to service such a format of trade, capable of speeding up the process of settlements and payments and, accordingly, minimizing temporary and cost obstacles to economic growth. This tool was electronic money, which appeared in the last stages of the evolution of the payment system in Ukraine. It is known that any innovation is initially perceived by a small part of society. Only after the innovation begins to be used by most people, the distribution process becomes more extensive at the state level and in particular its regulators. Electronic money was no exception, acting as an indicator of the necessary transformation of the traditional system of bank non-cash payments and payments, which demonstrated the inability of electronic banking systems to meet the needs of the majority of the information society. After the legitimization of electronic money to the form of non-cash money against the background of high risk of use, nevertheless, the demand for the use of electronic money in calculations continued to grow, and at the same time, interest in cryptocurrencies has already begun to increase, which indicates the need for economic entities to digitalize operations and their readiness for this. In view of this, today, one of the strategic priorities of the state is to increase the efficiency of the financial system through the development of banking services through the integration of digital financial technologies. It is clear that the world future of the payment sector is seen by the tools of the digital generation, which, now, we can state that they are in the initial stage of formation. The Parliament of Ukraine adopted on 17.02.2022 the Law of Ukraine “On Virtual Assets” No. 2074-IX. Which was signed by the President of Ukraine on 15.03.2022, after the changes were taken into account, according to his previously submitted proposals. The purpose of the article is to conduct research on establishing the peculiarities of state mechanisms for the sale of virtual assets in Ukraine, regulated by the Law 2074. According to the results of the study, it can be concluded that the sale of virtual assets in the legal field of Ukraine is possible only through an intermediary, namely a provider of services for the circulation of virtual assets: a) in the exchange procedure – which has permission to provide exchange transactions in virtual assets for other virtual assets and currency values.