PRACTICAL ASPECTS OF REGULATION AND SPECIFICITY OF IMPLEMENTATION OF BLOCKCHAIN TECHNOLOGY IN THE MODERN MONETARY AND FINANCIAL SECTOR

The importance of the cryptocurrency and blockchain technologies market as a result of globalization processes of monetary and financial relations and the emergence of the digital economy were determined. It was emphasized that blockchain technologies equate the role of traditional financial intermediaries through the creation of decentralized payment systems. The advantages of blockchain are: decentralization of reliability, saving time and resources, protection of personal data. In modern conditions, three main directions of blockchain implementation have emerged: cryptocurrency, smart contracts, IT applications (digital platforms, digital ecosystems). The prospects for the development of blockchain technologies are linked to the application in different spheres of economy. For example, the “smart contract” was embodied in the second-generation blockchain system “ethereum”, which embedded small computer programs directly into the blockchain system, what allowed the electronic display of financial instruments such as loans or bonds, not just cash, such as bitcoin. Approaches to the state regulation of the blockchain technology market were considered and the existing world experience of state regulation of the blockchain was summarized. Foreign experience shows that in countries where the state pays attention to blockchain technologies, there is an effective economic development. It is proved that the experience of countries such as China, USA, Singapore, Estonia demonstrates the effectiveness of a systematic approach to public administration of blockchain technologies. In these countries, more blockchain patents have been implemented, and in China, the development of blockchain technology and the blockchain industry is a part of the national information development plan, which is actively supported at the federal and municipal levels. The perspective plans of the Ministry of Digital Transformation for activating the development and regulation of the blockchain industry in Ukraine were outlined. Conclusions were made about the importance of adopting relevant laws at the national level, which will help to create conditions for the functioning of the virtual assets market, taking into account the balance of interests of all participants in this market and of the state