International Organizations’ Approaches to Digital Assets Legalization (Monetary Policy and AML/CFT)

P. 112–121.

Ponamorenko V.

The article investigates doctrinal approaches of international organizations to the legalization of digital assets in the light of monetary policy and Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT). The purpose of the research is to study current aspects of digital assets legalization at the international level in the context of the monetary policy and AML/CFT. This study is predominantly based on analytic papers and documents issued by Global Financial Regulators – IMF, FATF, BIS. The author pays attention to the regulation of crypto-assets by the EU authorities, especially the European Banking Authority (EBA), develops a concept of international legal personality of the FATF as a vivid example of an informal intergovernmental organization. The analysis of legal and other documents of the EAEU bodies plays a very important role. The study also focuses on the position of the FATF in relation to virtual assets and virtual asset service providers (VASP), as well as the monetary taxonomy of the IMF and the BIS, the relationship between the FATF and the FATF-style regional bodies, the contribution of such organizations to the regional economic integration in comparison with formal intergovernmental organizations. The methodology of the research comprises historical, comparative, formal-legal and functional methods, systemic approach.

Keywords: monetary policy, Eurasian Economic Union, digital assets, Crypto-assets, Stablecoin, Virtual currencies

In book

Engineering Economics: Decisions and Solutions from Eurasian Perspective. ENGINEERING ECONOMICS WEEK 2020. Lecture Notes in Networks and Systems

Switzerland: Springer, 2021.