Cryptocurrency as a factor for National Payment System Improvement in the process of Economy’s digitalization

Abstract

Research develops the modern theory and methodology of cryptocurrency functioning as an integral part of modern money circulation, and the main directions of cryptocurrency progress as means of legal payment in the Republic of Indonesia. Based on the econometric model of the cryptocurrency main indicators influence the relationship between “bitcoin” attributes was assessed; the probable scenarios for the financial regulation system of the Republic of Indonesia (RI) effectivization based on the National Bank or special financial institutions competences were highlighted; the practical recommendations aimed at combating money laundering in cryptocurrency-based transactions have been developed from the position of priority for Indonesian payment system modernization.