Regulation of the Turnover of Digital Financial Assets at the International Level

Regulation of control over the turnover of digital financial assets, other digital rights, and digital currency is becoming an urgent task that is being tried to solve at various levels. Most national jurisdictions build their regulatory framework by supporting the provisions developed, for example, by international organizations such as FATF. Nevertheless, in various countries such as Japan, Hong Kong, Italy, Finland, South Korea, there are their own solutions and reactions to the risks arising in the processes of turnover of digital assets. The authors set the goal of the proposed analytical review to determine, based on a comparative approach, what options there may be for the development of regulatory processes for the turnover of digital assets in different countries. An additional task (in addition to providing an overview of regulations and conducting a comparative analysis) was to study AML and KYC measures as practical tools for responding to risks in the field of laundering proceeds from crime. Conclusions about the possibilities of regulatory systems were based on consideration of a wide range of factors: from the traditions of the banking system of jurisdiction to a high assessment of the degree of public confidence in the intelligence services of the state.

digital assets, blockchain, control measures, digital financial assets