The article defines the legal status and principles of cryptocurrency circulation at the international level. Normative minimalism and the difficulty of defining a new legal institution have revealed the problem of legal regulation of the crypto market. The study aims at creating the conceptual foundations for the legal regulation of cryptocurrency. Scientific methods are based on the analysis of a limited number of studies selected according to special parameters and considered comprehensively. Results: The study has demonstrated that there is no uniform systemic approach in determining the legal status and principles of cryptocurrency circulation at the international and national levels. Based on the study results, it has been concluded that the institution of cryptocurrencies has its legal specifics. Thus, it is necessary to introduce a new concept for the regulation of cryptocurrencies and combine all their types under a single name “virtual currencies”. Considering the above-mentioned legal features, a definition of cryptocurrencies is given and the principles of their circulation are highlighted.
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