Cryptocurrency exchanges in the post-pandemic era: current trends

Mosakova E.A.


A significant threat to the stable functioning of the modern global financial system is the dynamic development of the crypto-exchange sector of the economy, where cryptocurrencies are mainly bought and sold. This sector has developed especially rapidly during the pandemic of the new coronavirus infection COVID-19. As a result, today the issues of expediency and scope of regulation of the crypto-exchange sector have become one of the most discussed among international and national regulations. Moreover, international institutions have taken a wait-and-see attitude, observing the experience of national governments around the world. There is also no unified position on this issue at the national level. Within this framework, the article discusses the features of the development and legislative regulation of the TOP-10 best modern cryptocurrency exchanges. As the conducted research has shown, in some jurisdictions, special crypto-exchange and crypto-exchange legislation has already been developed or is beginning to be formed, while in others separate changes are being made to the already existing legislative base, and some countries have no regulation of the activity of crypto-exchanges at all. At the same time, as the study showed, crypto exchanges occupy a leading position in the TOP-10, regardless of what legislation exists in the country in the field of regulating the activities of crypto-exchanges. The current trends in the development of the crypto-exchange sector, characteristic of most of the jurisdictions studied, are the strengthening of licensing of crypto-exchange activities, as well as the deanonymization of clients. In addition, there is a steady trend towards monopolization in the global crypto sector of the economy, which will result in increased regulation of national and global crypto markets in the short term.


cryptocurrency exchange; cryptocurrency exchange sector; cryptocurrency regulation; cryptocurrency assets; exchange reserves; cryptocurrency; fiat money; jurisdiction; monopolization.

DOI: 10.31249/rsm/2023.02.14

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