E-HRYVNIA AS A NEW FORM OF FINANCIAL CONTROL IN ANTI-CORRUPTION POLICY

Abstract

The purpose of the study is to analyze the legal regulation and to try to express a position on the mechanisms for protecting the rights of individuals when introducing new payment instruments. Ukrainian legislation of the process of introduction of electronic money. Research methods: the article uses the following general scientific methods of research: observation and description and theoretical methods: analysis, generalization, explanation, as well as systemic, functional, specific and sociological. Results: modern world approaches to the introduction of electronic money arising from the objective basis for the development of the financial system and financial control and virtual assets are outlined; the main trends in the context of determining the processes of protecting the rights of persons in the subject composition of such legal relations are identified and formulated. Discussion: the study of foreign and domestic approaches to legal regulation of introduction and use of electronic money in Ukraine, and determination of the subjective composition of legal relations arising in this regard, is essential for the development of Ukrainian legislation, which only partially corresponds to current trends, especially in terms of protection of rights. The concept of a central bank digital currency has been around for several years. The growing use of digital payments, the decline in cash transactions, and the emergence of cryptocurrencies such as Bitcoin and Ethereum, which pose a threat to the stability of the financial system and are outside of traditional banking systems, all served as prerequisites for the creation and development of the CBDC project. The Covid-19 pandemic has accelerated the adoption of digital payments and increased demand for digital currency, highlighting the limitations of physical money. With the start of the use of digital money, countries around the world have high expectations related to improving financial inclusion, promoting economic growth, creating a secure digital payment system, and transparency of financial transactions.