Կրիպտոարժույթներ. ռի՞սկ, թե՞ հնարավորություն / CRYPTOCURRENCIES: RISK OR OPPORTUNITY?

Abstract

Cryptocurrencies represent a relatively new type of currency in the global monetary and financial system. Since the introduction of the first cryptocurrency in 2009, there are more than 10,000 types of cryptocurrencies, but not all of them are effectively used, mainly due to the oversaturation of the market, greater price volatility and lack of widespread awareness. This disruptive form of currency, known as “Cryptocurrencies”, completely transformed the global payment and transaction system, the field of investment, and economic reality in less than a decade. Being an innovation in the monetary and financial system, cryptocurrencies are repeatedly subjected to sharp criticism, but it is difficult to overlook the positive attitude of experts towards this new phenomenon. In this paper, we aim to present the possible reasons for the success of cryptocurrencies and the risks and opportunities associated with the their application. Additionally, we delve into the regulationary approaches to cryptocurrencies in different countries.